155(1)A notification under paragraph 154(3) given by a trustee must be in the form provided by the Commissioners for Her Majesty's Revenue and Customs.U.K.
(2)A deposit-taker is entitled not to deduct a sum representing income tax under section 851 from a payment of interest on a deposit covered by a notification under paragraph 154(3) if sub-paragraph (3) applies to the payment.
(3)This sub-paragraph applies to a payment if—
(a)it is made within 30 days after the date when the deposit-taker receives the notification, and
(b)at the time it is made, it is not reasonably practicable for the deposit-taker to deduct a sum representing income tax from the payment.
(4)If an officer of Revenue and Customs is satisfied that a deposit covered by a notification under paragraph 154(3) does not meet the settlement condition in section 856(6), the officer must—
(a)cancel the notification, and
(b)give notice of the cancellation to the deposit-taker concerned.
(5)An officer of Revenue and Customs may give notice to a trustee of a settlement requiring the trustees to provide—
(a)information about any notification given by a trustee under paragraph 154(3), and
(b)such information as the officer may reasonably require for the purposes of giving a notification under that paragraph about interest to which the trustees are entitled.
(6)For the purposes of this paragraph crediting interest counts as paying it.