Commentary

E1.406 Building society dividends

Personal and employment tax

E1.406 Building society dividends

E1.406 Building society dividends

Any dividend paid by a building society is treated as interest for the purpose of the income tax charge on savings and investment income1. Specifically excluded from this rule though are dividends paid by building societies in respect of their core capital deferred shares2; see D7.803.

'Dividend' includes any distribution, whether or not described as a dividend3.

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