Policy paper
Corporation Tax: changes to Part 8C of the Corporation Tax Act 2010 tax on restitution interest payments
This tax information and impact note makes changes to the existing rules which apply tax at 45% to restitution interest payable by HM Revenue and Customs.
Documents
Details
The changes will benefit charitable companies, and life insurance companies which have attributed restitution interest to policyholders of with-profit funds. The anti-avoidance provisions are extended to deter abuse. Draft regulations have also been published.
Published 22 March 2017