TITLE

DUTY TO DEDUCT TAX ON PAYMENT OF INTEREST ARISING IN THE UK

AUTHOR(S)
Khin, Sharon
PUB. DATE
May 2014
SOURCE
Accountancy;May2014, Vol. 152 Issue 1449, p27
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses Perrin v Revenue & Customs, where the First Tier Tax Tribunal (FTT) found interest paid by Perrin to trustee Blackstone Ltd, an Isle of Man recipient, arose in Great Britain and interest should have been deducted under Income Tax Act 2007, s874. The FTT found that as the interest arose in Great Britain, Perrin had a duty to deduct tax on interest payment, determining that residence and funds source for payment or enforcement outweighed jurisdiction and actual payment.
ACCESSION #
96112212

 

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