SCIT CORPORATION TAX – Appellant issued funding bonds to foreign subsidiary companies – whether the effect of section 582 of the Income and Corporation Taxes Act 1988 was to treat the funding bonds as interest and therefore as income with the result that the foreign exchange legislation in the Finance Act 1993 did not apply to tax the exchange gains made on the funding bonds – no – appeal dismissed – ICTA 1988 section 582; FA 1993 Ss 125 to 170
Citations:
[2005] UKSPC SPC00466
Links:
Statutes:
Income and Corporation Taxes Act 1988 582, Finance Act 1993 125
Income Tax
Updated: 30 June 2022; Ref: scu.224954