Possible changes to the income tax rules on interest - CIOT comments
The CIOT invites comments, sent to HMRC on 21 June 2012, on proposals for changes to income tax rules on the taxation of interest received, and rules on the deduction of tax from interest paid. This consultation document affects persons who are subject to Income Tax on interest in accordance with the Income Tax (Trading and Other Income) Act 2005, or who are required to deduct income tax from interest and other payments in accordance with the Income Tax Act 2007.
Our submission and the consultation are available here in Adobe (pdf) format. The submission can also be found here on the HMRC website.
21 June 2012