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Tax in Turbulent Times

Continuing our series on 'Tax in turbulent times', Anneli Collins and David Gordon of KPMG LLP comment on HM Treasury's brand new proposals to tax companies buying back debt or other unconnected debt at a discount

 
Continuing our series on 'Tax in turbulent times' Anneli Collins and David Gordon of KPMG LLP comment on HM Treasury's brand new proposals to tax companies buying back debt or other unconnected debt at a discount
 
On 14 October 2009 the Financial Secretary to the Treasury announced that the Government intends to change the legislation dealing with the tax treatment of companies buying back their debt at a discount. The new legislation will be included within the next Finance Bill but will be effective from 14 October 2009 and will therefore impact a number of debt restructuring transactions...

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