Financial Instruments Tax and Accounting Review

This month’s accounting news – curtailed to make way for an update on the recent changes to the domicile rules – rounds up developments from the International Accounting Standards Board (IASB), the International Financial Reporting..

Alexandra Costa-D’sa and Clare Hunt of Linklaters LLP summarise recent developments that may be of interest to FITAR readers.

HMRC’s new tax-penalty regime means that loss-making transfer-pricing arrangements face an increased risk of attracting a penalty. Peter Hann examines the pitfalls.

Jay Krause and Stuart Skeffington of Withers International LLP, and James Anderson of Skadden, Arps, Slate, Meagher & Flom LLP, examine the implications of changes to the domicile and residence rules for US citizens living in the UK after April 2008.

As HMRC consults on a move towards a principles-based approach to tackling tax avoidance on financial instruments, Neil Edwards and Graham Robinson examine the implications.

John Lindsay, Linklaters LLP, considers the changes to the permanent regime and the temporary regime for securitisation companies that were introduced by statutory instrument in December 2007.