HMRC has produced guidance, primarily for staff carrying out risk or compliance activity, on the appropriate use of information received under the European Savings Directive, including information about payments of the special withholding tax.
HMRC has produced guidance, primarily for staff carrying out risk or compliance activity, on the appropriate use of information received under the European Savings Directive, including information about payments of the special withholding tax. The Directive (2003/48/EC) provides a framework for the exchange of information about payments of savings income (interest) between member states and certain other countries. Under transitional provisions, some countries are able to apply withholding tax rather than exchanging information (known as ‘special withholding tax’ in the UK).
The guidance explains how the Directive operates in relation both to countries which already operate information exchange and those which operate withholding tax, and provides a list of ‘things to consider’ for staff who are using Directive data for risk or compliance activity.
HMRC has produced guidance, primarily for staff carrying out risk or compliance activity, on the appropriate use of information received under the European Savings Directive, including information about payments of the special withholding tax.
HMRC has produced guidance, primarily for staff carrying out risk or compliance activity, on the appropriate use of information received under the European Savings Directive, including information about payments of the special withholding tax. The Directive (2003/48/EC) provides a framework for the exchange of information about payments of savings income (interest) between member states and certain other countries. Under transitional provisions, some countries are able to apply withholding tax rather than exchanging information (known as ‘special withholding tax’ in the UK).
The guidance explains how the Directive operates in relation both to countries which already operate information exchange and those which operate withholding tax, and provides a list of ‘things to consider’ for staff who are using Directive data for risk or compliance activity.
