Aozora GMAC Investment Ltd v Revenue and Customs Comrs

Subject Matter

REVENUE — Corporation tax — Double taxation relief — United Kingdom registered company making loan to United States subsidiary — US company withholding US tax from interest payments on loan — US tax authorities refusing UK company's request to benefit from double taxation convention under limitation on benefits provision on basis not "qualified person" — UK company submitting corporation tax return including claims for unilateral relief against UK tax due on interest payments on loan — Whether entitled to claim relief– Income and Corporation Taxes Act 1988, ss 790, 793A(3) – Double Taxation Relief (Taxes on Income) (The United States of America) Order 2002, SI 2002/2848, Schedule, Pt I, art 23

[2022] UKUT 258 (TCC); [2022] STC 1816, UT

Appellate History

Commentary

RPC Perspectives
Tribunal allows unilateral credit for US withholding tax even though no treaty relief available due to 'limitation on benefits' article Case comment