HMRC consults on changes to income tax rules for interest (detailed update) | Practical Law

HMRC consults on changes to income tax rules for interest (detailed update) | Practical Law

HMRC launched a consultation on changes to the income tax rules for interest, including repealing the quoted eurobond exemption for intra-group issues and the concept of "yearly" interest, extending the "disguised interest" anti-avoidance rules to income tax, and requiring payers of interest in the form of funding bonds to account for withholding tax on those bonds in cash, on 27 March 2012.

HMRC consults on changes to income tax rules for interest (detailed update)

Practical Law UK Legal Update 2-518-6860 (Approx. 9 pages)

HMRC consults on changes to income tax rules for interest (detailed update)

by PLC Tax
Published on 29 Mar 2012United Kingdom
HMRC launched a consultation on changes to the income tax rules for interest, including repealing the quoted eurobond exemption for intra-group issues and the concept of "yearly" interest, extending the "disguised interest" anti-avoidance rules to income tax, and requiring payers of interest in the form of funding bonds to account for withholding tax on those bonds in cash, on 27 March 2012.