Commentary

E1.539 Securities free of tax to residents abroad (FOTRA)

Personal and employment tax

E1.539 Securities free of tax to residents abroad (FOTRA)

Income from FOTRA securities

E1.539 Securities free of tax to residents abroad (FOTRA)

FOTRA securities are securities 'free of tax to residents abroad'. Broadly, these are United Kingdom government securities that are beneficially owned by persons who are not resident in the UK, or, for securities acquired before 6 April 2013 beneficially owned by persons who are not ordinarily resident in the UK1.

An exemption from income tax is available to the beneficial owner of a FOTRA security in the following situations:

  1.  

    •     a person holding the security as an investment may be exempt from tax on the interest arising

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial