Textual Amendments
F1Sch. 23A inserted by Finance Act 1991 (c. 31, SIF 63:1), s. 58, Sch. 13 para. 1 (with effect as mentioned in s. 58(3) in relation to payments made on or after such day as may be specified: 26.2.1992 specified for certain purposes by S.I. 1992/173, reg.2; 30.6.1992 specified for certain purposes by S.I. 1992/1346, regs.2, 3, 4; 21.4.1993 specified for certain purposes by S.I. 1993/933, regs.2, 3(b), 4)
Modifications etc. (not altering text)
C1Sch. 23A modified (19.3.1997) by Finance Act 1997 (c. 16), Sch. 7 para. 7(3)
3A(1)Where any manufactured interest is representative of interest on securities to which this paragraph applies—
(a)paragraph 3(2) above shall not require any deduction of tax to be made on the payment of that manufactured interest; and
(b)without prejudice to any other liability of his to income tax in respect of the manufactured interest, the recipient shall not by virtue of paragraph 3(5) above be liable to account for any income tax in respect of that manufactured interest.
(2)This paragraph applies to—
(a)gilt-edged securities (within the meaning of section [F250]); and
(b)securities not falling within paragraph (a) above on which the interest is payable without deduction of tax.
Textual Amendments
F2Word in Sch. 23A para. 3A(2)(a) substituted (with effect in accordance with s. 37(8)-(13) of the amending Act) by Finance (No. 2) Act 1997 (c. 58), s. 37(7)