Ian Hardiman

Thank you for the response, however, you have misunderstood the question. Me, the individual is paying, the company (overseas) interest and I need to deduct tax from the payment. How do I, as the individual report this tax and when is it reported. I understand and agree, if a company pays interest, form CT61 is completed and submitted each quarter. However what is the equivalent to the CT61 form, when an individual, rather than a company, pays interest and needs to deduct tax??? Thank you kindly.

I have borrowed money from an offshore company. I will be paying interest on the monies I have received. The company, who has lent me the money, is an overseas company and they are from a country that does not have a DTA with the UK and therefore, tax should be deducted from the interest payments I make. If this was a company paying interest, then the company would file a CT61 form and pay the interest accordingly. However as I am an individual paying interest, what are the mechanics behind how I should report and pay the tax, which is due? Thank you kindly