The Income Tax (Prescribed Deposit-takers) Order 2002

Prescribed deposit-takers

2.—(1) For the purposes of section 481(2)(f) of the Income and Corporation Taxes Act 1988, a person who is authorised for the purposes of the Financial Services and Markets Act 2000(1) and whose business consists wholly or mainly of dealing in financial instruments as principal is a class of person prescribed in relation to all relevant deposits.

(2) In paragraph (1) above—

• “financial instruments” has the same meaning as in section 349(5) and (6) of the Income and Corporation Taxes Act 1988(2);

• “relevant deposits” has the same meaning as in section 481(4) of that Act(3).

(1)

2000 c. 8.

(2)

Section 349(5) and (6) was inserted by section 95 of the Finance Act 2002 (c. 23).

(3)

Section 481(4) was amended by section 86(1) of the Finance Act 1995 (c. 4).