HMRC has announced two changes to the DT Treaty Passport Scheme
These changes apply from April 2013 onwards and are intended to" improve the customer experience of its users and enhance the scheme's effectiveness". The first is the relaxation of the timings for filing the Form DTTP2. The second is that, in certain circumstances, HMRC will now consider issuing a treaty passport to a US disregarded LLC or US S-Corporation.
LMA June Monthly Update
June's Monthly Update includes the latest legal and regulatory news on issues impacting the loan market, update on new LMA documentation and news on current education and training events.
New Developing Markets Documentation
We have published a revised recommended form Single Currency Term Facility Agreement intended for use in developing markets transactions. In addition, we have launched the following three new documents, intended for use in developing market jurisdictions: a Single Currency Revolving Facility Agreement; a Single Currency Term and Revolving Facilities Agreement; and a Dual Currency Term Facilities Agreement. These use the same basic structure and "boilerplate" as the LMA Recommended Forms of Primary Documents.
Revised LMA Leveraged Facilities Agreement and accompanying User Guide
We have published a revised version of our Senior Facilities Agreement for Leveraged Acquisition Finance Transactions. The changes reflect some of the statements of best practice in the LMA Transparency Guidelines.
New REF Development Facility Agreement
We have published a new recommended form of Single Currency Term Facility Agreement intended for use in real estate finance single property development transactions. This uses the same basic structure and "boilerplate" as the LMA Recommended Forms of Primary Documents for the investment grade market or, where relevant, the leveraged finance market.
LMA FATCA Riders Updated
They have been updated to incorporate additional provisions enabling agents to obtain tax forms from lenders whenever there is a US borrower. This change is in line with IGA requirements which impose certain obligations on agents.