Commentary

A4.402 Deposit takers and building societies—general

Administration and compliance

A4.402 Deposit takers and building societies—general

Division A4.4     Deduction of tax at source

For updates affecting this Division please see Part A0 Updates

Deposit-takers and building societies

A4.402 Deposit takers and building societies—general

The provisions relating to the deduction of tax at source both by deposit-takers and building societies are contained in ITA 2007, ss 850–873 (Pt 15, Ch 2) and the Income Tax (Deposit-takers and Building Societies) (Interest Payments) Regulations 20081.

The following are 'deposit-takers' for these purposes and for the purposes of payment of yearly interest2:

  1.  

    (a)     the Bank of England

  2.  

    (b)     a person with permission under FISMA 2000 to accept deposits which are 'relevant investments'

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial