Investee Companies should make payments without a deduction of income tax at source, unless a deduction of income tax at source is required by law.
Payments to the Future Fund should be made without a deduction of income tax at source on the basis that such payments are received by UK FF Nominees Limited on bare trust for the Department for Business, Energy and Industrial Strategy which as part of the UK Government benefits from an exemption from income tax. The Investee Company is advised to seek its own tax advice in relation to whether the deduction of income tax at source is required by law for payments to the Future Fund and other investors (other than the Future Fund).