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HMRC internal manual

Corporate Finance Manual

From
HM Revenue & Customs
Updated
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Corporate Finance Manual: recent changes

Below are details of the amendments that were published on 25 June 2010 (see the update index for all updates)

Section Details of update
   
CFM92600 Debt cap: anti-avoidance rules - section CFM92600+ renumbered to avoid overlap with following sections.
Statutory references updated to TIOPA 2010 throughout.    
  CFM92615 Additional guidance inserted on whether a unilateral act by a company can be a ‘scheme’.
  CFM92650 Paragraph added dealing with HMRC approach to non-abusive arrangements until such time as ‘excluded schemes’ Regulations are made.
  CFM92670 Arrangements involving novation to a group treasury company deleted from list of examples likely to be excluded from anti-avoidance rule (because the status of such an arrangement likely to depend on individual facts).
  CFM92735 Arrangements involving novation to a group treasury company deleted from list of examples likely to be excluded from anti-avoidance rule (because the status of such an arrangement likely to depend on individual facts).
  CFM92740 First example of schemes involving manipulation of group structure deleted, and third example modified (because original examples would not be possible unless incorrect accounting were used).