*Re Lehman Brothers International (In Administration); Lomas and others v Revenue and Customs Commissioners

Company – Administration. The Companies Court, in the course of the administration of Lehman Brothers International (Europe), considered the question of whether statutory interest, when paid, would rate as 'yearly interest' for the purposes of s 874 of the Income Tax Act 2007. The could held that the statutory interest was not 'yearly interest', and thus no obligation to deduct tax arose.

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