The publication of LIBOR is expected to cease after the end of 2021 and parties to financial instruments will need to transition to alternative reference rates.
HMRC has identified several statutory references to LIBOR that need amending as a result of this withdrawal and is seeking views on how this should be done.
In addition, the consultation aims to ensure HMRC fully understands the significant tax impacts that could arise from the reform of LIBOR and other benchmark rates.
Ways to respond
HM Revenue and Customs,
100 Parliament Street,
London SW1A 2BQ