Consultation outcome
Draft regulations: amendment to the Hybrid and Other Mismatches rules to retain an exemption for certain hybrid instruments issued by banks
Detail of outcome
Responses to this consultation contributed to the laying of the .
You can also read a tax information and impact note.
Original consultation
Consultation description
皇冠体育app Hybrid and Other Mismatches rules at Part 6A of the Taxation (International and Other Provisions) Act 2010 contain an exemption for certain hybrid instruments issued by banks.
This exemption will fall away after 31 December 2022 by virtue of a sunset clause, which was required by an EU directive.
皇冠体育appse regulations will remove the sunset clause and allow the exemption to continue to apply from 1 January 2023.
Before submitting your response, you can read these publications:
- (draft) 皇冠体育app Hybrid and Other Mismatches (Financial Instruments: Excluded Instruments) (Amendment) Regulations 2022
- (draft) explanatory memorandum
- (draft) tax information and impact note
Documents
Updates to this page
Published 19 May 2022
Last updated 8 November 2022
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Added details of outcome, including a link to the final regulations.
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First published.