Withholding tax

Resource type: Practice note

Status: Maintained

Jurisdiction: United Kingdom

This practice note is a summary of the UK withholding tax rules on payments of interest and certain other payments (such as annual payments, guarantee payments, patent royalties and other royalties).

It considers when withholding arises (including when interest has a UK source and when it is "yearly interest" rather than "short interest"). It also considers exemptions, such as the Quoted eurobond exemption and exemption under double tax treaties, and outlines the effect of the EU savings tax directive. Further, it discusses documenting for withholding tax, including gross-up clauses, and accounting for tax withheld.

PLC Tax

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Resource ID: 5-201-9175
Products: IP&IT, PLC UK Commercial, PLC UK Finance, PLC UK Public Sector, PLC UK Tax
This resource is maintained, meaning that we monitor developments on a regular basis and update it as soon as possible.

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Practice notes

Bond issues: tax Bond issues: tax (http://uk.practicallaw.com/topic9-202-2637)
Companies: UK residence and permanent establishments Companies: UK residence and permanent establishments (http://uk.practicallaw.com/topic4-204-0101)
Cross-border joint ventures Cross-border joint ventures (http://uk.practicallaw.com/topic7-100-2815)
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HMRC information powers HMRC information powers (http://uk.practicallaw.com/topic8-385-3436)
HMRC notices to produce information and documents issued before 1 April 2009 HMRC notices to produce information and documents issued before 1 April 2009 (http://uk.practicallaw.com/topic5-378-9121)
Loan relationships Loan relationships (http://uk.practicallaw.com/topic9-219-4959)
Securitisation: tax Securitisation: tax (http://uk.practicallaw.com/topic6-107-4445)
Tax covenant: long form: negotiating guide Tax covenant: long form: negotiating guide (http://uk.practicallaw.com/topic2-376-3603)
Tax on chargeable gains: general principles Tax on chargeable gains: general principles (http://uk.practicallaw.com/topic1-205-7008)
Value added tax Value added tax (http://uk.practicallaw.com/topic2-107-3725)

Checklist

Secured loan securitisation: tax checklist Secured loan securitisation: tax checklist (http://uk.practicallaw.com/topic9-376-2346)

Glossary

Double taxation treaty Double taxation treaty (http://uk.practicallaw.com/topic8-107-6151)
Quoted eurobonds Quoted eurobonds (http://uk.practicallaw.com/topic2-107-7101)

Articles

Cross-border joint ventures Cross-border joint ventures (http://uk.practicallaw.com/topic1-505-6840)
The Aaronson Report: a bridge to a GAAR? The Aaronson Report: a bridge to a GAAR? (http://uk.practicallaw.com/topic3-519-0244)
The UK's new CFC regime The UK's new CFC regime (http://uk.practicallaw.com/topic0-519-8741)

Legal update: archive

2009 Budget: key tax announcements 2009 Budget: key tax announcements (http://uk.practicallaw.com/topic2-385-7946)
Ask the Team: What is the tax treatment of late completion interest received in a property transaction? Ask the Team: What is the tax treatment of late completion interest received in a property transaction? (http://uk.practicallaw.com/topic5-386-5105)
Income Tax: Offshore bank accounts: disclosure procedure for taxpayers Income Tax: Offshore bank accounts: disclosure procedure for taxpayers (http://uk.practicallaw.com/topic9-364-5994)
News round-up to 31 March 2009 News round-up to 31 March 2009 (http://uk.practicallaw.com/topic8-385-5181)
Offshore bank accounts: more unnamed taxpayer notices issued Offshore bank accounts: more unnamed taxpayer notices issued (http://uk.practicallaw.com/topic1-386-1637)

External resource

Corporation Tax Act 2009 Corporation Tax Act 2009 (http://uk.practicallaw.com/topic7-385-5054)

Book

Principles of International Taxation, 3rd Edition Principles of International Taxation, 3rd Edition (http://uk.practicallaw.com/topicB-000-1521)

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