HMRC have announced changes to the Double Taxation Treaty Passport (DTTP) Scheme for overseas lenders.
The DDTP Scheme is aimed at simplifying administration in certain cases where non-resident companies make loans to UK corporate borrowers.
An overseas lender resident in a country with which the United Kingdom has a relevant double taxation treaty may apply to HMRC for a Treaty Passport. A relevant double taxation treaty is one that contains an article dealing with interest or incom…