Weil Tax BLOG - Feed https://tax.weil.com/category/uk-tax/interest/ Views and developments from the Tax Department at Weil Thu, 02 Jul 2026 14:41:16 +0000 hourly 1 Official Rate Change to Take Effect From April https://tax.weil.com/uk-tax/official-rate-change-to-take-effect-from-april/ Fri, 13 Mar 2020 09:40:20 +0000 Erica Rees Oliver Walker http://tax.weil.com/?p=859 The cut in the Bank of England’s base rate has garnered much attention in the press this week, but some keen observers (or employment tax aficionados!) may have noticed another rate change taking effect from April. Regulations amending the HMRC official rate of interest from 2.5% to 2.25% have been laid before the House of

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]]> The cut in the Bank of England’s base rate has garnered much attention in the press this week, but some keen observers (or employment tax aficionados!) may have noticed another rate change taking effect from April. Regulations amending the HMRC official rate of interest from 2.5% to 2.25% have been laid before the House of

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]]> Withholding Tax: HMRC’s Revised Approach to Late Payment Interest on Intra-EU Interest and Royalties Payments https://tax.weil.com/latest-thinking/hmrc-late-payment-interest/ Tue, 28 Jan 2020 17:02:30 +0000 Stuart Pibworth http://tax.weil.com/?p=825 Recently HMRC has updated its published guidance to reflect its new policy not to impose late payment interest in respect of intra-EU payments of interest and royalties where those payments are made gross notwithstanding that treaty clearance to make gross payments has not been obtained at the time of making the payment. The new policy

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]]> Growing Investment: How the New QPP Exemption Will Simplify Processes and Encourage Debt Investment into the UK https://tax.weil.com/uk-tax/straight-to-the-point/growing-investment-how-the-new-qpp-exemption-will-simplify-processes-and-encourage-debt-investment-into-the-uk/ Tue, 09 Oct 2018 10:53:02 +0000 Stuart Pibworth http://tax.weil.com/?p=505 Where a UK corporate debtor makes payments of yearly interest to, among others, non-UK creditors, the debtor will be required to withhold an amount representing UK income tax (currently at a rate of 20%) from that payment and account to HMRC for the same. Generally, this mechanic is referred to as a ‘withholding tax’. However,

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]]> Where a UK corporate debtor makes payments of yearly interest to, among others, non-UK creditors, the debtor will be required to withhold an amount representing UK income tax (currently at a rate of 20%) from that payment and account to HMRC for the same. Generally, this mechanic is referred to as a ‘withholding tax’. However,

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]]> The other (D)TT https://tax.weil.com/uk-tax/double-taxation-treaty/the-other-dtt/ Thu, 20 Sep 2018 16:21:20 +0000 Stuart Pibworth http://tax.weil.com/?p=502 The UK has signed new double tax treaties with the Isle of Man and the Channel Islands. When people think of the Isle of Man (IoM), several things may come to mind: high-speed motor sport; Victorian promenades and long, sandy beaches; the Laxey wheel; cyclist Mark Cavendish; or perhaps just cats without tails. However, for

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]]> The UK has signed new double tax treaties with the Isle of Man and the Channel Islands. When people think of the Isle of Man (IoM), several things may come to mind: high-speed motor sport; Victorian promenades and long, sandy beaches; the Laxey wheel; cyclist Mark Cavendish; or perhaps just cats without tails. However, for

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]]> The Ardmore Ruling: Between a Rock and a Difficult Place https://tax.weil.com/uk-tax/straight-to-the-point/the-ardmore-ruling-between-a-rock-and-a-difficult-place/ Tue, 07 Aug 2018 16:43:32 +0000 Oliver Walker Stuart Pibworth http://tax.weil.com/?p=501 It was perhaps unsurprising that in June the UK Court of Appeal ruled in favour of the UK tax authority (HMRC) in the Ardmore case. Broadly speaking, the court confirmed the existing understanding of the law as it relates to UK withholding tax (UKWHT) on interest payments. Had the court done otherwise, the resulting upheaval could

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]]> It was perhaps unsurprising that in June the UK Court of Appeal ruled in favour of the UK tax authority (HMRC) in the Ardmore case. Broadly speaking, the court confirmed the existing understanding of the law as it relates to UK withholding tax (UKWHT) on interest payments. Had the court done otherwise, the resulting upheaval could

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]]> Ardmore https://tax.weil.com/uk-tax/straight-to-the-point/ardmore/ Mon, 02 Jul 2018 23:36:05 +0000 Stuart Pibworth http://tax.weil.com/?p=496 Subject to the availability of a domestic exemption or relief under an applicable double tax treaty or EU Directive, a payment of yearly interest (as opposed to short interest) with a UK source to, amongst others, a non-UK person is subject to the deduction of UK income tax at the “basic” rate (currently 20%).  The

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]]> Subject to the availability of a domestic exemption or relief under an applicable double tax treaty or EU Directive, a payment of yearly interest (as opposed to short interest) with a UK source to, amongst others, a non-UK person is subject to the deduction of UK income tax at the “basic” rate (currently 20%).  The

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]]> Penalties for Enabling Tax Avoidance https://tax.weil.com/uk-tax/straight-to-the-point/penalties-for-enabling-tax-avoidance/ Fri, 28 Apr 2017 23:21:29 +0000 Oliver Walker http://tax.weil.com/?p=476 The UK Government is introducing legislation under which penalties may be assessed against anyone who is involved in designing, establishing or assisting a taxpayer in relation to any tax arrangements that are defeated by HMRC and are considered abusive. These new rules will, if enacted, apply to arrangements entered into on or after the date

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]]> The UK Government is introducing legislation under which penalties may be assessed against anyone who is involved in designing, establishing or assisting a taxpayer in relation to any tax arrangements that are defeated by HMRC and are considered abusive. These new rules will, if enacted, apply to arrangements entered into on or after the date

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]]> UK Tax Update: It’s Not All About Brexit! https://tax.weil.com/uk-tax/straight-to-the-point/uk-tax-update-its-not-all-about-brexit/ Mon, 15 Aug 2016 12:46:14 +0000 Oliver Walker http://tax.weil.com/?p=464 There has rightly been a great deal of attention paid to the UK’s decision to leave the EU and what that may mean from a business (including tax) perspective. However, until the UK comes closer to leaving the EU (which is unlikely to be for at least two more years) Brexit is not expected to

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]]> There has rightly been a great deal of attention paid to the UK’s decision to leave the EU and what that may mean from a business (including tax) perspective. However, until the UK comes closer to leaving the EU (which is unlikely to be for at least two more years) Brexit is not expected to

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