Revenue & Customs (2016) v Lehman Brothers International (Europe) (In Administration) Sub Nom (1) Anthony Victor Lomas & Ors
Judgment Date: 19 Dec 17
Summary Statutory interest payable on proven debts in an administration under the Insolvency (England and Wales) Rules 2016 r.14.23(7) amounted to "yearly interest" under the Income Tax Act 2007 s.874. The interest was therefore subject to deductions of basic rate income tax. Facts HMRC appealed against a decision that statutory interest payable...