Part 15Deduction of income tax at source
Chapter 3Deduction from certain payments of yearly interest
Exceptions from duty to deduct
876Interest paid by deposit-takers
1
The duty to deduct a sum representing income tax under section 874 does not apply to a payment of interest in respect of which a deposit-taker has a duty to deduct under section 851.
2
The duty to deduct a sum representing income tax under section 874 does not apply to a payment in respect of which a deposit-taker would have a duty to deduct under section 851 but for—
a
regulations under section 852, or
b
any of sections 858 to 861.