Guidance

Deduction of Income Tax from payments of yearly interest: private placements - technical note

This technical note describes the proposed primary legislation and outlines the regulations that would subsequently be made under the primary legislation.

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The government announced on 3 December 2014 that it will introduce legislation to amend the rules on deduction of income tax at source from yearly interest, where the interest is paid on ‘qualifying private placements’. This technical note sets out proposed draft legislation to provide such an exemption.

Comments on this technical note should be sent to email: tony.sadler@hmrc.gsi.gov.uk or mark.lafone@hmrc.gsi.gov.uk by 27 February 2015.

A Tax Information and Impact Note for this measure has been published at Income Tax: deduction at source from interest paid on private placements.

Published 10 December 2014