Income Tax (Trading and Other Income) Act 2005 section 762

Interest payments: exemption notices

Section 762 provides for regulations to be made about exemption notices, which are needed to satisfy the final condition for the interest exemption under section 758.

• Regulations may be made governing the process for exemption notices relating to interest payments between associated companies in different EU/EEA member states.
• An exemption notice is required as the fourth and final condition for claiming the interest exemption under section 758.
• The regulations cover how exemption notices are to be issued, their form, content, and any procedural requirements.
• No exemption notice is required for royalty payments — the notice requirement applies only to interest payments.