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Ask the Tutor ACCA TX-UK

Withholding Tax

Ffatema5y ago
Hello, I hope you are all doing well. I need assistance on the concept of withholding tax .. I just dont seem to get it. Also final and non final withholding tax. If you could please explain with an example. Thanks.
TTTax Tutor5y ago#1
Do not worry - withholding tax is NOT in the TX-UK syllabus!
Ffatema5y ago#2
Hi, Thank you for the response but I am actually asking for the purpose of interviews back home when they ask for it? So if you could please help me out, thank you.
TTTax Tutor5y ago#3
With the greatest of respect I am not here to assist individuals in their job interviews other than to help them pass the exams that get them to that interview! The concepts of "final and non final" are also not terms that exist within the UK system. WHT is a simple concept - as a UK resident I am liable to tax on worldwide income and if I pay tax at 20% in the UK on a source of overseas income that has suffered 5% WHT in the overseas country where it arose I will only have to pay the additional 15% tax charge in the UK
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