Company – Distributions to creditors. Statutory interest payable on proved debts was 'yearly interest' within the meaning of s 874(1) of the Income Tax Act 2007. The Court of Appeal, Civil Division, so held in allowing the Revenue and Customs Commissioners' (HMRC) appeal against the judge's decision that such interest was not 'yearly interest'. Consequently, the joint administrators of Lehman Brothers International (Europe) would be required, subject to certain exceptions, to deduct basic rate income tax from payments of statutory interest made to creditors on their proved debts and to account for the tax to HMRC.