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GIIA response to HMT consultation

In the last month GIIA has submitted its response to two closely related consultation documents: HM Treasury’s (“HMT”) consultation regarding the UK tax regime for asset holding companies (“AHCs”) and HM Revenue & Customs’ (“HMRC”) consultation into the UK’s hybrid and other mismatches (“anti-hybrids”) rules.

GIIA welcomes the opportunity to engage with HMT and HMRC to bring about positive changes for the infrastructure sector, and is encouraged by the willingness which has been demonstrated to both reduce the compliance burden associated with the anti-hybrid rules and to remove the barriers to establishing UK AHCs. GIIA believes the developments proposed in our submissions could enable the mobilisation of institutional capital into infrastructure, boosting the UK economy in the shorter term throughout its post-pandemic recovery as well as in the longer term.

We are grateful to members of the GIIA Global Tax Working Group, chaired by Naz Klendjian of KPMG, in contributing their insights and expertise to these submissions.

To read the submissions GIIA members can access the Tax Working Group Forum in the Members' Area of the website. If you do not have your login details please contact