Updates: International Manual

2024

7 November 2024 published amendments

Transfer of assets abroad: The income charge: contents

Four new pages added (INTM600825, INTM600830, INTM600835 and INTM600845).

Transfer of assets abroad: History of the legislation: History

New paragraph added at the end of this page, reflecting the changes made by Finance (No 2) Act 2024.

6 November 2024 published amendments

Controlled Foreign Companies: Reviews: Flow chart - what should be included in the corporation tax self assessment return?

Link to drawing never inserted so the page is being archived on advice of the G6 Sandra Dippie.

Controlled Foreign Companies: Reviews: Contents

Page archived.

5 November 2024 published amendments

Transfer of assets abroad: The income charge: The individual - multiple income charges

Four paragraphs added to the end of this page to reflect changes to the ToAA legislation in Finance (No 2) Act 2024 which sought to reverse the effect of the Fisher decision at the Supreme Court, [2023] UKSC 44.

Transfer of assets abroad: The income charge: The individual - the transfer

Quotes from Court of Appeal judgment in Fisher removed. Quotes from Supreme Court decision in Fisher added. References to new ToAA legislation in Finance (No 2) Act 2024 added. This new legislation reversed the Fisher decision.

Transfer of assets abroad: Other general provisions: Just and reasonable basis

Quote from Court of Appeal decision in Fisher removed. New paragraph added, beginning with "In terms of transfers made by closely-held companies...", to reflect legislative changes made by Finance (No 2) Act 2024.

Transfer of assets abroad: Information powers: Restrictions on particulars to be provided by solicitors

Third paragraph (beginning "It also includes...") amended to reflect changes to s749 ITA 2007 made by Finance (No 2) Act 2024

Transfer of assets abroad: Information powers: Restrictions on particulars to be provided by banks

Second bullet point text amended to reflect changes made to s750 ITA07 by Finance (No 2) Act 2024.

Transfer of assets abroad: The Tribunal: The Tribunal's jurisdiction in relation to transfer of assets

New bullet point and text added at the top of the bullet point list on this page, to reflect legislative changes made by Finance (No 2) Act 2024.

31 October 2024 published amendments

Transfer pricing: legislation: rules: the arm's length principle

Updating link at the bottom of the page from INTM480020 to INTM480520.

3 October 2024 published amendments

Transfer pricing records: when to provide the specified transfer pricing records

Change authorised by Jenny Buchanan.

27 September 2024 published amendments

UK residents with foreign income or gains: income arising abroad: Partnerships

Replaced “s852” with “s858”.

20 September 2024 published amendments

UK residents with foreign income or gains: income arising abroad: Partnerships

Changed s858 to s852 and repointed DT links to SharePoint rather than Gov.UK.

11 September 2024 published amendments

Transfer pricing: risk assessment: transfer pricing risk indicators: general

new paragraph added including a link the Guidelines for Compliance for Transfer Pricing

Transfer pricing operational guidance: Evidence gathering: Establish the facts

New paragraph added which includes a link to Guidelines for Compliance for Transfer Pricing

3 September 2024 published amendments

UK residents with foreign income or gains: income tax: Trades, professions set up 1996-97 onwards

Updates made to guidance pages in relation to Basis Period Reform

UK residents with foreign income or gains: income tax: Overlap profits

Updates made to guidance pages in relation to Basis Period Reform

UK residents with foreign income or gains: double taxation relief: Foreign tax

Updates made to guidance pages in relation to Basis Period Reform

UK residents with foreign income or gains: double taxation relief: Definitions - root income basis, statutory income basis

Examples updated for page

14 August 2024 published amendments

Transfer pricing: legislation: rules: exemptions: SME - list of treaties with appropriate double taxation article

updated list of countries and updated date it takes effect from

6 August 2024 published amendments

International Manual

Changing Ian Provan to Nayem Husain.

2 August 2024 published amendments

UK residents with foreign income or gains: certificates of residence: escalation routes for HMRC staff in cases of difficulty

Contact details changed to certificates of residence mailbox

26 July 2024 published amendments

UK residents with foreign income or gains: certificates of residence: letter of confirmation

Adding sentence to tell customers how to apply for a LOC.

24 July 2024 published amendments

Transfer pricing: operational guidance: working a transfer pricing case: assessments and enquiry closure notices

Various changes agreed by Martin Voelker of the TP Team.

19 July 2024 published amendments

Company residence: Statement of Practice 1/90

Minor spelling correction - nusiness to business.

10 July 2024 published amendments

Double Taxation applications and claims: time limit: Notice of intention to claim

Last paragraph updated to reflect MAP request to mailbox.

13 June 2024 published amendments

Non-residents trading in the UK: Introduction: Introduction to the module

updated 2nd paragraph

amended typos

5 June 2024 published amendments

Offshore Receipts in respect of Intangible Property (ORIP): Glossary of terms: Meaning of full treaty territory

Removal of reference to Hong Kong.

23 May 2024 published amendments

DT applications and claims - Types of income: Interest

REmoval of outdated wording "HMRC’s position in that case is outlined in Tax Bulletin 9 of November 1993. The instructions at IM3940 also refer". Authorised by Andy Preece G6.

Removal of obsolete wording.

17 May 2024 published amendments

DT applications and claims - Types of income: Interest

Changing outdated legislation

15 May 2024 published amendments

Official Agents

Change requested by policy lead Rufus Rottenberg.

7 May 2024 published amendments

European Union (EU): General Exemption

Page archived

European Union: exemption from Taxation

Updated paragraph to detail terms of exemption

2 May 2024 published amendments

Employees of International Organisations: Experts/consultants

Chnage requested by pag eowner Rufus Rottenberg.

1 May 2024 published amendments

Issues affecting equity function cases

Header update requested by Richard Thopson (BAI)

Intra- group funding - Group finance companies and the treasury function: contents

Header change rqeuested by Ricard Thompson (BAI).

Controlled Foreign Companies: How the corporate tax regime works for CFCs: Clearances: Where to send applications

Updated CFCs Mailbox link to correct address; updated postal address

25 April 2024 published amendments

Interest imputation: transfer pricing the lender: detecting and evaluating loans to connected parties

Replaced broken link to 542020 with working link to 412060.

18 April 2024 published amendments

Double taxation treaties: Beneficial ownership: Importance of beneficial ownership

amendment do referral info in paragraph 2

Double taxation treaties: Beneficial ownership: Practical consideration of claims

amendment to referral info at paragraph 2

4 April 2024 published amendments

Thin capitalisation: practical guidance: the use of credit ratings: what is a credit rating?

Reissuing as didn't get published.

21 March 2024 published amendments

Diverted Profits Tax: application of Diverted Profits Tax: legislation – Finance Act 2015 – core provisions: section 81 - involvement of entities or transactions lacking economic substance - extension to foreign companies with a UK permanent establishment

Page recreation

19 March 2024 published amendments

Transfer pricing: Methodologies: OECD Guidelines: Importance of Article 9 of OECD Model Tax Convention

updated short title

updated title

Diverted Profits Tax: notification, charging and payment: interaction with Corporation Tax penalties

updated final paragraph to include link to CH manual

22 February 2024 published amendments

DT applications and claims - Types of income: Royalties

Page removal as requested by TP Team.

Removal of page per TP Team.

21 February 2024 published amendments

DT applications and claims - Types of income: Royalties

As advised by the Transfer Pricing team, the information on this page is obsolete and should be removed. The link on the page to "Register of Plays" didn't work, so apart from removing the link to this page from "Manual Contents, NFA necessary.

DT applications and claims - Types of income: Royalties

Removing link to 342570.

30 January 2024 published amendments

Transfer pricing operational guidance: Accurate delineation of the actual transaction: Risk

amended various typos throughout the page.

26 January 2024 published amendments

Transfer pricing: operational guidance: Evidence gathering: Index page: contents

New page added - INTM485025

Transfer pricing operational guidance: Accurate delineation of the actual transaction: Risk allocation

New para added at the head of the page

2023

12 December 2023 published amendments

UK residents with foreign income or gains: double taxation relief: Same income

Paragraphs added to clarify HMRCs approach to determining whether the same income has been taxed in two territories for the purpose of double taxation relief claims.

Foreign entity classification for UK tax purposes: Introduction

Page amended to clarify meaning of "transparent" and "opaque" and give information on purpose of guidance.

Foreign entity classification for UK tax purposes: How HMRC arrives at a general view of foreign entities

Page amended to provide details on how HMRC reach a general view on foreign entities, including factors considered.

Foreign entity classification for UK tax purposes: List of classifications of foreign entities for UK tax purposes

Paragraph added on how list is intended to be used.

Foreign entity classification for UK tax purposes: How HMRC arrives at a definitive view of specific foreign entities

Page added on approach to reaching a definitive view on foreign entity classification

Foreign entity classification for UK tax purposes: HMRC view of Delaware LLCs in light of Anson

Page added on HMRC view of Delaware LLCs in light of Anson

Foreign entity classification for UK tax purposes: Contacts and clearances

Page added for foreign entity classification contact and clearance details

6 December 2023 published amendments

Transfer pricing records: contents

inserting new page/section

9 October 2023 published amendments

Investment from abroad: Inward Investment Support

Page re-published so the the last link displays on the GOV.UK website as well

5 October 2023 published amendments

International Manual

Publish manual to add new page INTM120181.

3 October 2023 published amendments

Transfer of assets abroad: Non-domiciled and deemed domiciled settlors from 6 April 2017: Benefits charge on onward gift recipients - basic conditions

Test to check if publishes correctly to GOV.UK

15 September 2023 published amendments

Controlled Foreign Companies: Entity Exemptions: Chapter 13 - The Low Profit Margin Exemption: contents

Page title amended

5 September 2023 published amendments

DT applications and claims - Types of income: Interest

Updated to remove ref to local offices

25 July 2023 published amendments

Transfer pricing records: materiality of a category of controlled transactions

amended 2 typos in Example

4 July 2023 published amendments

UK residents with foreign income or gains: certificates of residence: for trusts

Capitalisation/grammar

20 June 2023 published amendments

Transfer Pricing: methodologies: Mutual Agreement Procedure: HMRC contacts

Update to contact details

16 June 2023 published amendments

Non-residents trading in the UK: permanent establishment: domestic and treaty law: fixed place of business: contents

New page added

new page added and moved to correct location in contents

24 May 2023 published amendments

Non-residents trading in the UK: Returns and assessments outside normal time limits: Assessing time limits

Major rewrite

4 May 2023 published amendments

Transfer pricing: the main thin capitalisation legislation: The interaction between UK taxing rights and double taxation agreements

amending typos and updating the wording in the last section.

amended review date

amendment to date the approach takes effect (very last paragraph on the page)

17 April 2023 published amendments

European Union: exemption of staff

Page updated and last para added

International Manual

INTM owner details updated.

14 April 2023 published amendments

Diverted Profits Tax: customer engagement with HMRC: initial contact between customers and HMRC

updating contact details

updating contacts info

Diverted Profits Tax: appendix A - notification template guidance

updating contact details

Updated contact info

29 March 2023 published amendments

Transfer pricing: operational guidance: working a transfer pricing case: penalties

amend typo

27 March 2023 published amendments

Transfer pricing: operational guidance: working a transfer pricing case: penalties

update review date

17 March 2023 published amendments

Transfer pricing: operational guidance: working a transfer pricing case: penalties

additional paragraphs added

6 March 2023 published amendments

Thin capitalisation: practical guidance: introduction: what is thin capitalisation?

Amend typo

Thin capitalisation: practical guidance: introduction: the aims of thin cap work

amend typo

13 February 2023 published amendments

Thin capitalisation: practical guidance: private equity: private equity buyout funding structures

typo

Thin capitalisation: practical guidance: the use of credit ratings: what is a credit rating?

typo

Thin capitalisation: practical guidance: the use of credit ratings: important factors to consider when benchmarking using credit ratings

wording update

typos

Thin capitalisation: practical guidance: private equity: payment-in-kind (“PIK”) notes

typos

typo

Thin capitalisation: practical guidance: lending against asset values: UK third-party practices - loan to value ratios in property lending

wording update

Thin capitalisation: practical guidance: private equity: what is private equity?

typo

11 February 2023 published amendments

Thin capitalisation: practical guidance: interest cover - debt servicing: discounted debt and convertible debt

re-write

Thin capitalisation: practical guidance: interest cover - debt servicing: factors affecting the interest rate

re-write

updating links

Thin capitalisation: practical guidance: interest cover - debt servicing: LIBOR (London Interbank Offered Rate) replaced by SONIA and Short-Maturity Treasury Debt Issues

re-write

title update

Thin capitalisation: practical guidance: interest cover - debt servicing: what is an acceptable arm's length standard?

wording update

Thin capitalisation: practical guidance: interest cover - debt servicing: cash flow and cash flow covenants

update wording

Thin capitalisation: practical guidance: interest cover - debt servicing: measuring cash flow sufficiency to pay interest and repay capital

re-write

Thin capitalisation: practical guidance: measuring debt: what is an acceptable arm's length standard?

re-write

Thin capitalisation: practical guidance: measuring debt: how the nature of the commercial activity influences the level of debt

re-write

Thin capitalisation: practical guidance: lending against asset values: lending against assets in general

re-write

Thin capitalisation: practical guidance: lending against asset values: lending against tangible assets - assets other than buildings and land

re-write

Thin capitalisation: practical guidance: lending against asset values: lending against tangible assets - land and buildings

re-write

Thin capitalisation: practical guidance: lending against asset values: UK third-party practices - loan to value ratios in property lending

re-write

typo

Thin capitalisation: practical guidance: lending against asset values: UK third party practices - interest rate margins in property lending

re-write

Thin capitalisation: practical guidance: lending against asset values: offshore property companies

re-write

Thin capitalisation: practical guidance: lending against asset values: property companies and the credit crisis

re-write

Thin capitalisation: practical guidance: private equity: what is private equity?

re-write

Thin capitalisation: practical guidance: private equity: private equity buyout funding structures

re-write

Thin capitalisation: practical guidance: private equity: typical debt elements of a private equity buyout

re-write

Thin capitalisation: practical guidance: private equity: payment-in-kind (“PIK”) notes

re-write

Thin capitalisation: practical guidance: creating agreements between HMRC and the group: introduction to the main features of the agreement

re-write

Thin capitalisation: practical guidance: creating agreements between HMRC and the group: maximum amount of debt

wording update

Thin capitalisation: practical guidance: creating agreements between HMRC and the group: interest rate

wording update

Thin capitalisation: practical guidance: third-party loan agreements: the general form of third-party debt agreements

wording update

Thin capitalisation: practical guidance: third-party debt agreements: interest rates and related fees

wording update

Thin capitalisation: practical guidance: the use of credit ratings - contents

Heading change

Thin capitalisation: practical guidance: the use of credit ratings: what is a credit rating?

re-write

Thin capitalisation: practical guidance: the use of credit ratings: how do ratings agencies arrive at their ratings?

wording update

Thin capitalisation: practical guidance: the use of credit ratings: what are credit ratings used for by the market?

re-write

Thin capitalisation: practical guidance: the use of credit ratings: investment grade and non-investment grade credit ratings

title alteration

Thin capitalisation: practical guidance: the use of credit ratings: the distinction between ‘investment grade’ and ‘speculative grade’

re-write

Thin capitalisation: practical guidance: the use of credit ratings: important factors to consider when benchmarking using credit ratings

re-write

Thin capitalisation: practical guidance: the use of credit ratings: in-house credit ratings

re-write

Thin capitalisation: practical guidance: the use of credit ratings: further considerations when using credit ratings in thin capitalisation cases

rewrite

10 February 2023 published amendments

Thin capitalisation: practical guidance: introduction: forms of borrowing

re-write

Thin capitalisation: practical guidance: introduction - contents

new page added

Thin capitalisation: practical guidance: opening a case: origins and destinations of debt

paragraph removed

Thin capitalisation: practical guidance: knowledge and negotiation: getting to know similar businesses - comparables

re-write

11 January 2023 published amendments

Transfer of assets abroad: introduction

Page archived

Transfer of assets abroad: Overview of ITA2007/Sections 721 and 727 (‘Income Charge’)

Page archived

Transfer of assets abroad ('Benefits Charge')

Page archived

Transfer of assets abroad: Overview of ITA2007/S736 - 742 - exemption from liability

Page archived

Transfer of assets abroad: mandatory referral to WMBC Assets, Edinburgh

Page archived

Transfer of assets abroad: checklist of indicators

Page archived

Transfer of assets abroad: what information is needed by WMBC Assets Edinburgh

Page archived

Transfer of assets abroad: Working transfer of assets enquiries with WMBC Edinburgh

Page archived

Thin capitalisation: practical guidance: lending against asset values: offshore property companies

Changed the penultimate paragraph wording slightly and added new link to INTM60000 that has extensive new guidance published in this section

Tweak to the link intm600000

9 January 2023 published amendments

Transfer of assets abroad: contents

Publication of new guidance, replacing what was INTM600010 - INTM600080

7 January 2023 published amendments

Transfer of assets abroad: contents

Addition of new guidance pages

Added link to new guidance pages

2022

23 December 2022 published amendments

Non-residents trading in the UK: through UK investment managers, brokers or Lloyd’s agents - Contents

New page INTM269079A added

22 December 2022 published amendments

Non-residents trading in the UK: through UK investment managers, brokers or Lloyd’s agents: investment managers: the definition of "investment transaction"

Additions made to guidance

European Union: exemption of staff

Additions made to guidance

20 December 2022 published amendments

Double Taxation applications and claims: time limit: Notice of intention to claim

Team and mailbox updated to ukmap.individuals@hmrc.gov.uk

12 December 2022 published amendments

Thin capitalisation: practical guidance: creating agreements between HMRC and the group: statement of practice 01/12

Updating contact details

30 November 2022 published amendments

Diverted Profits Tax: notification, charging and payment: situations where notification is not required

reinstated broken links

Diverted Profits Tax: notification, charging and payment: how to notify

fixed broken links

Diverted Profits Tax: notification, charging and payment: what should be included in the charging notice

fixed broken link

21 November 2022 published amendments

Hybrids: financial instruments (Chapter 3): overview: ATAD compliant Hybrid Regulatory Capital Exemption with effect from 1 January 2020

Guidance amended throughout

17 November 2022 published amendments

Intra-group funding: group finance companies and the treasury function: Thin capitalisation risk assessment

updated a link

2 November 2022 published amendments

Immunities and Privileges Overview

Email updated to international.immunitiesprivileges@hmrc.gov.uk

Sovereign Immunity

email changed to BAI, Business International (Immunities & Privileges)

Diplomatic Immunity

email updated to international.immunitiesprivileges@hmrc.gov.uk

Diplomatic Missions: general

email updated to international.immunitiesprivileges@hmrc.gov.uk

Diplomatic Missions: conditions of exemption

email updated to international.immunitiesprivileges@hmrc.gov.uk

Diplomatic Missions: exemptions from Income Tax

Email updated to international.immunitiesprivileges@hmrc.gov.uk

Diplomatic Missions: exemption from Capital Gains Tax

email updated to international.immunitiesprivileges@hmrc.gov.uk

Diplomatic Missions: Communicating with privileged persons

email updated to international.immunitiesprivileges@hmrc.gov.uk

Consuls: Consular Relations Act 1968

email updated to international.immunitiesprivileges@hmrc.gov.uk

6 October 2022 published amendments

Transfer pricing: methodologies: Advance Pricing Agreements: monitoring and review

amending link to contact details

22 September 2022 published amendments

Transfer pricing: operational guidance: governance: the resolution stage

update to panel names

Transfer pricing: operational guidance: governance: the Transfer Pricing Group

Updating panel names

Transfer pricing: operational guidance: governance: case teams and the wider transfer pricing community

updating team/panel names

21 September 2022 published amendments

Transfer pricing: operational guidance: governance: contents

note added for readers

20 September 2022 published amendments

Transfer Pricing: methodologies: Mutual Agreement Procedure: HMRC contacts

change of contact details

12 September 2022 published amendments

The Non-resident Landlords Scheme: Overview of the Scheme

Second Para of ITM370010 deleted

25 August 2022 published amendments

The Non-resident Landlords Scheme: Overview of the Scheme

Spelling error corrected

Thin capitalisation: practical guidance: lending against asset values: offshore property companies

New para inserted to reflect changes post 5 April 2019

19 August 2022 published amendments

Transfer pricing: the main thin capitalisation legislation: The interaction between UK taxing rights and double taxation agreements

change to wording of the last sentence of 5th paragraph

3 August 2022 published amendments

Foreign entity classification for UK tax purposes: List of Classifications of Foreign Entities for UK tax purposes

Removed co-op UA in consultation and agreement with CT Structures Team (V Baker)

20 June 2022 published amendments

The Non-resident Landlords Scheme: Overview of the Scheme

Further line added referring to guidance at PIM4820

Distribution exemption: Exemption for small companies: definitions

Table updated

15 June 2022 published amendments

Non-residents trading in the UK: Returns and assessments outside normal time limits: Assessing time limits

New paragraph added to guidance in relation assessment and closure notices and Commissioners sanction.

13 June 2022 published amendments

Double Taxation applications and claims: time limit: Attempt to claim after expiry of time limit

Mailbox address added for PT team.

Link added to mailbox

16 May 2022 published amendments

DT claims and applications - Types of income: Pensions and Annuities

NHS pension details updated

NHS pension updated