Commentary

E1.568 Interest on foreign currency securities owned by non-UK residents

Personal and employment tax

E1.568 Interest on foreign currency securities owned by non-UK residents

E1.568 Interest on foreign currency securities owned by non-UK residents

An exemption from income tax is available for interest on certain foreign currency securities beneficially owned by people who are not resident in the UK, but only if the Treasury make an appropriate direction1.

The exemption applies to interest on such foreign currency securities issued by a local authority or a statutory corporation as the Treasury direct and such foreign currency loans made to a statutory corporation as the Treasury directs2. The exemption applies in the case of interest on a security if its beneficial owner is non-UK resident and, in

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