Tax – Income tax. Statutory interest payable under r 14.23(7) of the Insolvency (England and Wales) Rules 2016, SI 2016/1024, was yearly interest within the meaning of s 874 of the Income Tax Act 2007, so that the appellant administrators of Lehman Brothers International (Europe) had first to deduct income tax before paying interest to proving creditors. Accordingly, the Supreme Court dismissed the administrators' appeal against the Court of Appeal, Civil Division's decision, and held that income tax was payable to the respondent Revenue and Customs Commissioners.