The government plan to shake up the taxation of corporate debt contracts raises concerns for practitionersThe government’s stated aim in the current consultation document, Modernising the taxation of corporate debt and derivative contracts, is to provide simpler and fairer tax treatment, minimising the scope for abuse, reducing uncertainty and improving structural and legislative clarity as well as reducing administrative burdens. Given the lack of detail in the consultation document, it is difficult to say whether the objectives will be met, although there are a number of areas of concern.