I have been head of treasury tax since joining Grant Thornton in 2006. As such I lead a team of people specialising in the taxation of loan relationships, derivatives and foreign exchange.
As well as the continued focus on financial restructurings, the tax consequences of changing to new UK GAAP (FRS102 or FRS101) are top of client priorities. In many cases the accounting issues surrounding financial instruments and the possible choices around hedge accounting are difficult for clients. The treasury tax team advise on the tax consequences and any options which a client may wish to choose. This includes both ongoing issues and transitional issues.
The taxation of loans and derivatives is in flux and possible new legislation was published with the Autumn Statement in 2014. I am a member of two of the government working parties that are involved in the process.
As well as helping people within the firm with the legislative complexities of treasury tax, I have for several years been running an external treasury tax course bi-annually for IBC.