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

Part 6 U.K. Exempt income

Chapter 4 U.K. SAYE interest

705 Certification of arrangements U.K.

(1) A linked savings arrangement is certified under this section if it is certified by the [F1 Commissioners] —

(a) as a linked savings arrangement, and

(b) in the case of an institutional arrangement, as meeting such requirements as the Treasury may specify for the purposes of this Chapter.

(2) The requirements which may be specified under subsection (1)(b) are such requirements as the [F2 Commissioners] consider appropriate.

(3) They may, in particular, relate to—

(a) the descriptions of individuals who may enter into contracts under an arrangement,

(b) the contributions to be paid by them, and

(c) the sums to be paid or repaid to them.

(4) Different requirements may be specified for—

(a) bank arrangements,

(b) building society arrangements, and

(c) European authorised institution arrangements.

[F3 (5) In this Chapter “the Commissioners” means the Commissioners for Her Majesty's Revenue and Customs.]

Textual Amendments

F1 Word in s. 705(1) substituted (retrospective to 29.4.2009) by Finance Act 2009 (c. 10), s. 50(2), Sch. 26 para. 2(2)

F2 Word in s. 705(2) substituted (retrospective to 29.4.2009) by Finance Act 2009 (c. 10), s. 50(2), Sch. 26 para. 2(2)

F3 S. 705(5) inserted (retrospective to 29.4.2009) by Finance Act 2009 (c. 10), s. 50(2), Sch. 26 para. 2(3)