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Withholding tax on royalties from New Zealand
bonecold1
Posts: 27 Forumite
in Cutting tax
If a UK company has made losses in the year can it recover the 10% withholding tax on royalties from New Zealand? Does it get a repayment, is it carried forward or is it dead money?
2012 money saving challenge:
Saved: £16,222
Target: £12,000
Saved: £16,222
Target: £12,000
0
Comments
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You cannot claim a repayment as 10% is the rate which the NZ treasury is allowed to tax the income under the UK:NZ tax treaty.
Also, I do not believe that you will be able to carry it forward as it does not arise on a dividend, and therefore cannot create Eligible Unrelieved Foreign Tax (EUFT).
Dead Money.Everyone loves Magical Trevor.
'Cause the tricks that he does are ever so clever.0
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