Examples of UK Notes in a sentence
Whilst the UK Notes are and continue to be quoted Eurobonds, payments of interest on the UK Notes may be made without withholding or deduction for or on account of United Kingdom income tax.
In all cases falling outside the exemptions described above, interest on the UK Notes may fall to be paid under deduction of United Kingdom income tax at the basic rate (currently 20%) subject to such relief as may be available following a direction from HMRC pursuant to the provisions of any applicable double taxation treaty, or to any other exemption which may apply.
The Notes issued by the Issuer which carry a right to interest (" UK Notes") will constitute "quoted Eurobonds" provided they are and continue to be listed on a recognised stock exchange.
In addition to the exemption set out in A.1 above, interest on the UK Notes may be paid without withholding or deduction for or on account of United Kingdom income tax so long as the Issuer is authorised for the purposes of the Financial Services and Markets Act 2000 and its business consists wholly or mainly of dealing in financial instruments (as defined by section 984 of the Income Tax Act 2007) as principal and so long as such payments are made by the Issuer in the ordinary course of that business.
While the UK Notes are and continue to be listed on a recognised stock exchange within the meaning of Section 1005 Income Tax Act 2007 (“ITA 2007”), or admitted to trading on a multilateral trading facility operated by a UK, Gibraltar or an EEA regulated recognised stock exchange within the meaning of Sections 987 and 1005 ITA 2007, payments of interest on the UK Notes which carry a right to interest may be made without withholding or deduction for or on account of UK income tax.
The UK Notes will satisfy this requirement if they are both officially listed in Singapore on the Main Board of the SGX-ST in accordance with provisions corresponding to those generally applicable in countries in the European Economic Area and are admitted to trading on the SGX-ST.
The UK Notes will satisfy this requirement if they are both officially listed in Hong Kong in accordance with provisions corresponding to those generally applicable in countries in the European Economic Area and are admitted to trading on the Hong Kong Stock Exchange.
The Notes issued by the Issuer which carry a right to interest ("UK Notes") will constitute "quoted Eurobonds" provided they are and continue to be listed on a recognised stock exchange.
The following summary does not deal with situations where the interest on any U.K. Note is deemed to be the income of a person other than the holder of the U.K. Note for United Kingdom tax purposes and relates only to the position of persons who are the absolute beneficial owners of the U.K. Notes.
Where the U.K. Notes are to be, or may fall to be, redeemed at a premium, as opposed to being issued at a discount, then any such element of premium may constitute a payment of interest and, if so, any such payment of interest may (subject to paragraph 1 above) be subject to United Kingdom withholding tax at the basic rate of income tax.