HMRC consult on withholding tax exemption for MTFs
Released 20 March 2017
HMRC have opened a consultation on withholding tax exemption for debt traded on a multilateral trading facility (MTF), following the Spring Budget announcement to introduce an exemption, in order to make UK wholesale debt markets (that is, those focused on institutional investors) more competitive.
This consultation sets out an outline proposal. HMRC are now seeking views from interested parties, including exchanges, potential debt issuers and investors, and their arrangers and advisers, to ensure the design of this exemption is as effective as possible and without unintended effects.
The consultation closes on 12 June 2017.
More details can be found here.