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

Part 6 U.K. Exempt income

Chapter 9 U.K. Other income

Interest only income U.K.

[F1 753A Interest on unpaid relevant contributions U.K.

(1) No liability to income tax arises in respect of interest paid in compliance with a requirement in a compliance notice or an unpaid contributions notice to pay interest in respect of unpaid relevant contributions.

(2) In this section—

• “compliance notice” means a notice under section 35 of the Pensions Act;

• “the Pensions Act” means the Pensions Act 2008 or the Pensions (No.2) Act (Northern Ireland) 2008;

• “unpaid contributions notice” means a notice under section 37 of the Pensions Act;

• “unpaid relevant contributions” has the same meaning as in section 38(2)(a) of the Pensions Act.]

Textual Amendments

F1 S. 753A inserted (19.7.2011) by Finance Act 2011 (c. 11), s. 69(3)