Policy paper

Hybrid and other mismatches: continuation of exemption for regulatory capital

This tax information and impact note is about the continuation of an exemption for banks issuing certain hybrid capital instruments to overseas associates.

• From: HM Revenue & Customs
• Published: 20 September 2022
• Last updated: 10 November 2022 — See all updates

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Hybrid and other mismatches: the continuation of regulatory capital exemption

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This measure continues the counteraction exemption for banks issuing regulatory capital instruments to overseas associates.

This will make sure that interest paid on these instruments should remain deductible, subject to conditions set out in existing tax regulations.

The measure will take effect from 1 January 2023.

Published 20 September 2022
Last updated 10 November 2022 + show all updates

1. 20 September 2022

   First published.