Sharia-compliant transactions: tax

This note provides an introduction to the UK's tax treatment of Islamic (sharia-compliant) finance or, as it is referred to in UK tax legislation, "alternative finance".

This note does not deal with VAT. For a discussion of the value added tax treatment of sharia-compliant products, see Practice note, Sharia-compliant transactions: VAT.

NOTE: This resource is being reviewed in light of the Finance Act 2015. For more information, see Legal update, Finance Bill 2015 receives Royal Assent.

Gary Richards (updating the note originally prepared by Charles Goddard), Berwin Leighton Paisner LLP


 

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