Income Tax Act 2007

855Meaning of “investment” and “deposit”U.K.
This section has no associated Explanatory Notes

(1)In this Chapter “investment” means—

(a)a deposit with a deposit-taker,

(b)a deposit with a building society,

(c)shares in a building society, or

(d)a loan to a building society.

(2)In this Chapter “deposit” means a sum of money paid on terms which mean that it will be repaid (with or without interest)—

(a)on demand, or

(b)at a time or in circumstances agreed by or on behalf of the person who pays it and the person who receives it.