Commentary

A4.405 Deposit takers and building societies—the duty to deduct prior to 2016/17

Administration and compliance

A4.405 Deposit takers and building societies—the duty to deduct prior to 2016/17

A4.405 Deposit takers and building societies—the duty to deduct prior to 2016/17

This article discusses the provisions for deduction of tax as they applied before 2016/17. For the current position, see A4.402

Where a deposit-taker or building society made a payment of interest on an investment which was a 'relevant investment' (see A4.406) at the time the payment was made, it was required to deduct tax at the basic rate in force in the year in which the payment was made1. Crediting interest also counted as paying it2. In the case of building societies, interest paid on a relevant investment also

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