LIBOR Reform: The Clock Is Ticking [On demand] has been saved
LIBOR Reform: The Clock Is Ticking [On demand]
Aired Wednesday 18 November 2020
Host: Mo Malhotra
Presenters: Ben Moseley, Aisling Kavanagh, Gemma Marshall, Svenja Schumacher
LIBORs are the benchmark interest rate in hundreds of $trillions of financial instruments, but may no longer be available after the end of 2021, as banks will no longer be required to submit rates by the Financial Conduct Authority. Corporate treasurers are therefore accelerating their plans to replace LIBORs in their organisation’s contracts, with alternative reference interest rates. What actions should your organisation take to understand the potential tax consequences of LIBOR transition? With a focus on non-financial corporates, we’ll discuss:
- The commercial background and latest developments, and actions companies are taking.
- Potential accounting implications, and standard-setters’ responses.
- Possible tax consequences and tax authority guidance, with a focus on the UK.
Keep up-to-date with the tax considerations associated with this important