Commentary

E1.404A Dormant bank and building society accounts

Personal and employment tax

E1.404A Dormant bank and building society accounts

E1.404A Dormant bank and building society accounts

In 2008 a scheme was introduced to use funds in dormant accounts for the benefit of good causes. Should there subsequently be a claim to the account, the objective for tax is to put the customer in the same position as they would have been but for the scheme. To this end regulations may provide for interest paid or credited in respect of a relevant dormant account to be treated as not paid until the time (if any) when the customer makes a reclaim of their dormant account balance under the terms of

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