HMRC recently announced the launch of a long-awaited Double Taxation Treaty Passport ("DTTP") scheme for overseas corporate lenders who rely on a double tax treaty for relief from withholding tax on interest payments by or from UK borrowers ("Treaty Lenders"). When the DTTP scheme becomes operative on 1st September 2010, the process of obtaining DT clearance should become considerably simpler in relation to Treaty Lenders who have applied for and obtained a DTTP.
