Brexit: Charges on income for corporation tax purposes

Mar 15, 2021

Reference to the UK in circumstances where interest is paid to a bank (including a building society), stockbroker or discount house carrying on a business in the UK is now included in paragraph 2.1 of the Tax and Duty Manual Part 08-02-01 – Charges on income for corporation tax purposes.

The update to the TDM reflects changes made to section 243(4)(b) TCA 1997 by section 52 of the Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Act 2020. See e-Brief No. 047/21 for further details.