C1Part 15Deduction of income tax at source
Chapter 2Deduction by deposit-takers and building societies
Duty to deduct sums representing income tax
852Power to make regulations disapplying section 851
1
The Commissioners for Her Majesty's Revenue and Customs may make regulations which provide that section 851 does not apply in relation to a payment of interest if prescribed conditions are met.
2
The regulations may, in particular, include—
a
provision for a certificate to be supplied to the effect that the person beneficially entitled to a payment is unlikely to be liable to pay any income tax for the tax year in which it is made F1or is unlikely to be liable to pay any income tax on that person’s savings income for that tax year,
b
provision for the certificate to be supplied by that person or another prescribed person,
c
provision about the time when, and the manner in which, a certificate is to be supplied, and
d
provision about the form and contents of a certificate.
3
Any provision included in the regulations under subsection (2)(d) may allow the Commissioners to make requirements about the form and contents of a certificate.
4
In this section “prescribed” means prescribed in the regulations.
Pt. 15 modified (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), ss. 551(4), 1329(1) (with Pts. 1, 2, Sch. 2 para. 78)