Taxes Consolidation Act 1997 section 255

Arrangements for payment of interest less tax or of fixed net amount

Section 255 sets out how older loan agreements that refer to interest being paid "less tax" or at a net rate are to be interpreted, given that tax is no longer deducted at source from such interest payments.

Access full legislation.And much more.

By becoming a member, your team gets full access to Tax World research tools and source-backed tax resources.