Income Tax (Trading and Other Income) Act 2005 (c. 5)

Part 6 U.K. Exempt income

Chapter 4 U.K. SAYE interest

702 Interest under certified SAYE savings arrangements U.K.

(1) No liability to income tax arises in respect of interest payable under a certified SAYE savings arrangement.

(2) In this section “certified SAYE savings arrangement” has the meaning given in section 703(1).

(3) Subsection (1) is subject to—

(a) section 707(1) (which requires the providers of certain arrangements to be authorised), and

(b) paragraph 7 of Schedule 12 to FA 1988 (application of exemption on change of status of building society).

(4) In this Chapter “interest” includes any bonus.