Revenue eBrief No. 047/21
09 March 2021
Charges on income for corporation tax purposes
Tax and Duty Manual Part 08-02-01 – Charges on income for corporation tax purposes – has been updated as follows:
Paragraph 2.1 now includes a 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.
This amendment reflects the changes made to section 243(4)(b) Taxes Consolidation Act 1997 by section 52 of the Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Act 2020.