Unpicking the Finance Bill 2015—withholding tax exception

Table of contents

• Original news
• What does the draft legislation propose?
• The statutory conditions as currently drafted seem simple and straightforward. What further conditions are likely to be introduced by way of regulations?
• What is the purpose behind the new exception?
• Who do you think will benefit from the exception?
• When will this exception take effect?

Article summary

Tax analysis: With a new withholding tax exception for interest on qualifying private placements to be introduced after Royal Assent of the Finance Bill 2015, Deepesh Upadhyay, a senior associate in Evershed’s London tax team, examines the draft legislation for the new exception and the government’s proposals for regulations to restrict its scope.