All posts with the topic: withholding tax

The Government announced today that it is to extend the Double Taxation Treaty Passport scheme (the “DTTP Scheme”) so that it applies to all lenders and borrowers, rather than just corporate lenders and borrowers. The DTTP Scheme was introduced in 2010.  It simplifies the process for claiming exemption from (or the reduced rate for) withholding … Continue reading Double Taxation Treaty Passport Scheme extended to non-corporates

A few interesting tax changes announced today across the funds spectrum: UK authorised funds The 0.5% stamp duty reserve charge on dealings in units in UK unit trusts and OEICs will be abolished from 1st April 2014,  a very welcome change. The Government will consult on a proposal to remove the requirement to withhold tax … Continue reading Investment funds – changes in the Budget

Last March HMRC launched a consultation on the income tax treatment of interest, including proposals to restrict withholding tax exemptions for quoted Eurobonds and interest on short term loans. We reported on these proposals in an Update dated 29 March 2012. HMRC has now published a Summary of Responses plus its proposals for legislative change … Continue reading Tax Update – Income tax on interest: changes announced

The Government has announced plans to consult on possible changes to the way interest (and interest like returns) are taxed. � The consultation will extend to the circumstances in which tax needs to be withheld from interest payments.  Any changes to this regime will likely have a significant impact on the way many businesses are … Continue reading Consultation on the taxation of interest