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Posted Fri, 11 Aug 2023 14:23:05 GMT by L T
Dear Sir/Madam, Good afternoon, Can you please kindly clarify if and how an individual (UK tax resident) withhold tax from interest payment to an overseas individual (Non UK tax resident)? For UK companies, there is CT61 form. Is there any form for individual traders? Furthermore, does an UK individual have to withhold tax for the interest payment to an overseas resident if it's not for a trade, say it's for purchasing a residential property considering the rocketing official interest rate now? Thank you for your kind clarification. Regards LT
Posted Wed, 16 Aug 2023 08:32:13 GMT by HMRC Admin 25 Response
Hi L T,
CT61 is a corporation tax form and is not used by individuals.
A UK individual would not have to withhold tax from the interest payment to a foreign individual.
Thank you. 
Posted Wed, 16 Aug 2023 09:11:21 GMT by L T
Thank you for your kind clarification. Regards LT

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