- Latest available (Revised)
- Original (As enacted)
This is the original version (as it was originally enacted).
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.
(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.
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: