A4.426 Interest paid to a bankA bank is defined for the purposes of ITA 2007, ss 878, 879 as follows1: • the Bank of England • a person authorised by the Financial Services and Markets Act 2000 to accept deposits, other than a building society, a friendly society, an industrial and provident society or an insurance company • the European Investment bank; and • an international organisation (of which the UK is a member) designated by the Treasury as a bankInterest payable on an advance from a bank is not payable under deduction of tax if the person beneficially
A bank is defined for the purposes of ITA 2007, ss 878, 879 as follows1:
• the Bank of England
• a person authorised by the Financial Services and Markets Act 2000 to accept deposits, other than a building society, a friendly society, an industrial and provident society or an insurance company
• the European Investment bank; and
• an international organisation (of which the UK is a member) designated by the Treasury as a bank
Interest payable on an advance from a bank is not payable under deduction of tax if the person beneficially
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