SCHEDULES

SCHEDULE 2Qualifying asset holding companies

PART 11Exemption from section 874 of ITA 2007 (withholding tax)

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In Part 15 of ITA 2007 (deduction of income tax at source), after section 888D insert—

888DAPayments of interest by a QAHC

The duty to deduct a sum representing income tax under section 874 does not apply to a payment of interest (however the interest arises) by a QAHC (within the meaning of Schedule 2 to FA 2022).