The Law Society's Tax Law Committee has responded to HMRC's consultation on proposed legislative changes around the IFRS16 accounting standard. The proposed changes aim to ensure that the IFRS16 leasing rules continue to work as originally intended, particularly in relation to plant or machinery. The Law Society's response to the consultation can be viewed here.
HMRC have also sought views on ways to ensure the corporate interest restriction rules work as intended following the introduction of IFRS16. The Law Society's Tax Law Committee's response can be viewed here.