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Immediate Clampdown on Debt Buy-Backs
by Ian R. Reid
Jones Day - London Office
Charlotte L. Sallabank
Jones Day - London Office
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November 4, 2009
Previously published on October 2009
The Government have announced in a Written Ministerial Statement that changes will be made in next year's Finance Bill, with effect from 14 October 2009, to amend the UK tax rules applying where existing debt is purchased at a discount by a company connected to the debtor.
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