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View the related Tax Guidance about Double tax relief (DTR)

Double tax relief

Double tax reliefSTOP PRESS: The remittance basis is to be abolished from 6 April 2025, although this only applies to foreign income and gains arising on or after that date. The remittance basis rules still apply to unremitted income and gains arising before that date but remitted later. The legislation is included in Finance Bill 2025. For more details, see the Abolition of the remittance basis from 2025/26 guidance note.When income arises in a foreign country to a UK resident company and that income is taxable in that foreign country, the UK may give the company relief for the foreign tax by crediting the foreign tax against the UK tax charged on that income. This might include withholding tax on interest or royalties, or tax on the profits of an overseas permanent establishment for example. The UK has three options for providing relief from double taxation: two via credit relief and one by way of deduction from the profits of the business.For further commentary and examples, see Simon鈥檚 Taxes D4.803 and E6.4.Credit reliefTax treaty reliefThe UK has more than 130 tax treaties, which may exempt income from tax in one country or give credit for foreign taxes suffered on income. The precise mechanism will vary from treaty to treaty. Treaty relief takes precedence over other forms of relief for foreign taxes. For details on tax treaties, see the Structure of a tax treaty guidance note. To claim treaty relief, the taxpayer must have been resident in the UK throughout

Tolley鈥檚 monthly tax case tracker 2024

Tolley鈥檚 monthly tax case tracker 2024This tax tracker tool displays the current status and most recent developments of direct tax cases being heard by the Upper Tribunal (UT), the Court of Appeal, the Court of Session, the Supreme Court and the EU Court of Justice as at 9 December 2024. It is updated on a rolling monthly basis.The tracker is split into three parts:鈥�Cases subject to an appeal鈥�Cases potentially subject to an appeal, and鈥�Finalised tax casesRecent updates are shown below in bold.Cases subject to an appealThis section of the tracker shows cases that are currently subject to an appeal.Name of parties and citationCurrent statusA D Bly Groundworks and Civil Engineering Limited v HMRCCA/2024/001410; [2024] UKUT 104 (TCC); [2021] UKFTT 445 (TC)Corporation tax-provision for pensions liabilities The FTT found that the primary purpose of entering into an unfunded pension arrangement (which had been notified under DOTAS) was to reduce their corporation tax liability without incurring any expenditure; and that the liability to pay pensions under those arrangements did not generate deductible expenses (even though there were pensions being paid out). The FTT also found that the creation of such a scheme is not a payment or transfer from which benefits will be provided under the EBT regime. The UT dismissing the appeal upheld the FTT鈥檚 conclusion that the pension liabilities were not incurred wholly and exclusively for the purposes of a trade and accordingly the deductions claimed should not be

Corporate interest restriction 鈥� calculating tax-interest expense amounts and tax-EBITDA

Corporate interest restriction 鈥� calculating tax-interest expense amounts and tax-EBITDAWhy do we need to calculate these amounts?This guidance note sets out details of the initial calculations a group will need to undertake for the purposes of the corporate interest restriction (CIR) regime. For a general overview of the regime, see the Corporate interest restriction 鈥� overview guidance note.Having established who is part of the worldwide group, the next step to take when looking at the CIR is to calculate the aggregate net tax-interest expense for all companies in the worldwide group that are within the charge to UK corporation tax. In order to do this, it is necessary to calculate the net tax-interest expense (or income) for each relevant company and then sum these amounts. Details of how to go about this are set out under 鈥楥alculating tax-interest expense amounts鈥� below. Net tax-interest expense is also required to calculate tax-EBITDA.In order to undertake the CIR calculations in both the fixed ratio method (see the Corporate interest restriction 鈥� fixed ratio method guidance note) and the group ratio method (see the Corporate interest restriction 鈥� group ratio method guidance note), it is first necessary to calculate tax-EBITDA for each relevant company. Again, these figures are the aggregate for the worldwide group. Aggregate tax-EBITDA is the amount to which the fixed ratio (30%) or, if an election is made, the variable group ratio percentage (GRP) is applied when calculating a group鈥檚 interest allowance for a given period of account. Details of