Consent solicitation and Taxable person: Difference between pages

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''Securities - debt - bonds - bond indenture''
''UK VAT.''  


A consent solicitation is a formal offer by the issuer of a security to change the terms of the security agreement.  
For VAT purposes, a taxable person is someone who is, or is required to be, registered for VAT.  


For example, a bond issuer might ask bondholders if the terms of a LIBOR-linked bond indenture may be changed, in order to transition to another appropriate benchmark rate.  
A 'person' for these purposes is widely defined and may include individuals, partnerships, companies or another corporate bodies.


Consent solicitations are necessary, because security agreements need mutual consent in order for them to be changed.


 
== See also ==
:<span style="color:#4B0082">'''''Transitioning LIBOR-linked bonds'''''</span>
* [[Default surcharge]]
 
* [[His Majesty's Revenue & Customs]] (HMRC)
:"The key message for issuers is that they should now be actively transitioning their outstanding LIBOR-linked bonds through consent solicitations or other methods, and clearly communicating their plans to their investors, and in a timely manner.
* [[Tax avoidance]]
 
* [[Tax evasion]]
:Investment managers are aware that some issuers have been reluctant to launch proposals for fear of not gathering sufficient support, and would like to make it clear that investors are fully supportive of the transition process.
* [[Tax haven]]
 
* [[Tax point]]
:To this end, the IA's report also includes a list of the key features LIBOR-transition consent solicitations should have in order to maximise the chance of success - these features include strong engagement, awareness of existing regulator and industry body announcements and recommendations, and a clear focus on LIBOR transition as opposed to other matters."
* [[Tax written down value]]
 
* [[Taxable transaction]]
:''Hugo Gordon, Policy Specialist, Capital Markets, from The Investment Association - ACT guest blog - 15 July 2021''
* [[Taxpayer]]
 
* [[Taxpayer’s Charter]]
 
* [[Value Added Tax]] (VAT)
==See also==
*[[Benchmark]]
*[[Bond]]
*[[Bondholder]]
*[[Bond indenture]]
*[[LIBOR]]
*[[Risk-free rates]]
*[[Security]]
*[[The Investment Association]] (IA)
*[[Tough legacy]]
*[[Transition]]


[[Category:Accounting,_tax_and_regulation]]
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:Investment]]
[[Category:Long_term_funding]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Financial_products_and_markets]]

Revision as of 15:28, 28 September 2022

UK VAT.

For VAT purposes, a taxable person is someone who is, or is required to be, registered for VAT.

A 'person' for these purposes is widely defined and may include individuals, partnerships, companies or another corporate bodies.


See also