HM Revenue and Customs has launched a consultation on the treaty clearance processes by which non-resident lenders can be paid interest by UK companies without withholding tax deducted.
The Bank of England’s asset purchase facility to provide companies with funding has started operation, initially buying investment grade sterling commercial paper. In the first three weeks of its operation, the Bank has built up a holding of £985m in corporate CP.
Guidance on the going concern basis for smaller companies has been published by the Financial Reporting Council. Assessing whether a company is still a going concern is a requirement under the financial reporting standard for smaller entities even though many can opt out of an audit.
