Commentary

E1.522 Income from savings certificates

Personal and employment tax

E1.522 Income from savings certificates

National savings income

E1.522 Income from savings certificates

No liability to tax arises in respect of income from authorised savings certificates1. For these purposes, a savings certificate is 'authorised' if its acquisition was not prohibited by Treasury regulations limiting a person's holding2.

Savings certificates are3:

  1.  

    •     savings certificates issued under the National Loans Act 1968, s 12, the National Debt Act 1958, s 7 or FA 1920, s 59

  2.  

    •     war savings certificates, as defined in the National Debt Act 1972, s 9(3), or

  3.  

    •     savings certificates issued under any enactment forming part of the law of Northern Ireland and

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