(This archived guidance relates to HMRC discretionary
practice before the 6th April 2006. For current guidance on
Registered Pension Schemes see the Registered Pension Schemes
Manual)
Financial Intermediaries and Claims Office (FICO)
allows relief from UK tax to non- residents, either by repayment or
at source, and charges to tax foreign dividends and interest coming
into the UK via collecting and paying agents. It also charges the
Bank of England in respect of tax deducted from government
securities and meets requests for the calculation of the rates of
overseas tax underlying foreign dividends. FICO carries out a range
of supervisory, advisory, repayment and assessing functions. These
include repaying to financial institutions and charities tax
deducted at source, and determining the tax payable by foreign
residents and in relation to non-resident trusts.
