SCHEDULES
SCHEDULE 11Building Societies: Marketable Securities
Information
5
(1)
In section 18 of the M1Taxes Management Act 1970 (information about interest payments) after subsection (3C) there shall be inserted—
“(3D)
For the purposes of this section, the payment by a building society of a dividend in respect of a share in the society shall be treated as the payment of interest.”
(2)
This paragraph shall have effect as regards a case where the payment is made on or after the day on which this Act is passed.