Commentary

E1.523 Income from Ulster Savings certificates

Personal and employment tax

E1.523 Income from Ulster Savings certificates

E1.523 Income from Ulster Savings certificates

Ulster Savings Certificates are outside the exemption for savings certificates detailed at E1.522. Instead they are subject to a separate exemption1.

No liability to income tax arises in respect of income from authorised Ulster Savings Certificates if Condition A, B or C is met2.

For the exemption to apply, a claim must be made3.

Condition A is that the holder purchased them and at the time of the purchase, the holder was resident and ordinarily resident in Northern Ireland4.

Condition B is that the holder is resident and ordinarily resident in Northern Ireland when they are repaid5.

Condition C

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