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Changes over time for: Section 412
Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 21/07/2008.
Changes to legislation:
There are currently no known outstanding effects for the Income Tax Act 2007, Section 412.
Changes to Legislation
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412InformationU.K.
This section has no associated Explanatory Notes
(1)A person (“the payer”) who claims relief under this Chapter for a payment of interest made in a tax year is entitled to request the person to whom the interest is paid to give the payer a statement in writing about that interest containing the information specified in subsection (3).
(2)That request must be in writing.
(3)The information is—
(a)the date when the debt was incurred,
(b)the amount of the debt when incurred,
(c)the interest paid in the tax year, and
(d)the name and address of the debtor.
(4)The person to whom the interest is paid has a duty to comply with a request under subsection (1) and that duty is enforceable by the payer.
(5)This section does not apply if the interest is paid to a building society or to a local authority.
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