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The Income Tax (Deposit-takers and Building Societies) (Interest Payments) Regulations 2008

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This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

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9.—(1) A certificate must contain—

(a)the information prescribed in paragraphs (2) and (4); and

(b)the undertaking prescribed in paragraph (5).

(2) In relation to the person beneficially entitled to the payment of interest, the prescribed information is that person’s—

(a)name,

(b)permanent residential address (including post code),

(c)date of birth, and

(d)national insurance number if the circumstances in paragraph (3) apply, except where, in a particular case, an officer has indicated that this information is not required.

(3) The circumstances referred to in paragraph (2)(d) are that the person beneficially entitled to the payment of interest—

(a)was aged 16 or over at the beginning of the tax year in which the payment was made, and

(b)was liable to pay Class 1 or Class 2 contributions within the meaning of section 1(2) of the Social Security Contributions and Benefits Act 1992(1), at any time within the period of three years ending with the date on which the certificate is signed.

(4) In relation to the investment to which the certificate relates, the prescribed information is—

(a)the name of the relevant financial institution,

(b)the account number, and

(c)the branch, sort code or roll number as appropriate, of the relevant financial institution where the account is held, if the account cannot otherwise be identified.

(5) The prescribed person must undertake to notify the relevant financial institution that if—

(a)that person, being the person beneficially entitled to the payment of interest, or

(b)the person so entitled,

becomes liable to pay any amount by way of income tax for the tax year in which the payment is made, that person will notify the relevant financial institution in accordance with regulation 10.

(1)

1992 c. 4. Paragraph (2) was amended by paragraph 56 of Schedule 7 to the Social Security Act 1998 (c. 14), by section 74(1) of the Child Support, Pensions and Social Security Act 2000 (c. 19) and by paragraph 170 of Schedule 6 to the Income Tax (Earnings and Pensions) Act 2003 (c. 1).

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