INCOME TAX – appeal by the Appellant, an Irish resident company, against a refusal by the Respondents to repay to the Appellant income tax withheld at source in respect of interest paid on a debt owed by a UK resident company – refusal based on the Respondents’ view that Article 12(1) of the double tax treaty between the UK and the Republic of Ireland (the ‘Treaty’) did not apply to the interest as a result of Article 12(5) of the Treaty, which precluded the article from applying where one of the persons concerned with the assignment had a main purpose of taking advantage of the article by means of the assignment – held that Article 12(5) of the Treaty did not apply to the Appellant in respect of the interest because no person who was concerned with the assignment of the debt had obtaining the benefit of Article 12(1) of the Treaty by means of the assignment as one of its main purposes
Citations:
[2022] UKFTT 290 (TC)
Links:
Jurisdiction:
England and Wales
Income Tax
Updated: 17 September 2022; Ref: scu.680654