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HMRC internal manual

International Manual

DT applications and claims - Types of income: Interest

Local Authority loan stocks

From 30 September 2002 local authorities are able to make certain payments of interest without deduction of tax. Payments of interest to non-residents continue to be made after deduction of tax.

Subject to normal examination procedures relief from UK tax may be allowed under the terms of a double taxation agreement. A direction under the terms of SI1970/488 can also be issued.