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Income tax can be collected on Lehman surplus payments, UK appeal court rules

By Kyriaki Karadelis

20 December 2017

In the latest judgment to arise out of the Lehman administration, the England and Wales Court of Appeal has confirmed statutory interest paid to creditors after a surplus in an estate qualifies as “yearly interest” subject to income tax, reversing an earlier decision.

Income tax can be collected on Lehman surplus payments, UK appeal court rules Credit: iStock.com/marcyano