C1Part 15Deduction of income tax at source
Annotations:
Modifications etc. (not altering text)
Chapter 3Deduction from certain payments of yearly interest
Exceptions from duty to deduct
F1876Interest 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 on an investment if—
a
the payment is made by a deposit-taker, and
b
when the payment is made, the investment is a relevant investment.
1A
In this section “deposit-taker”, “investment” and “relevant investment” have the meaning given by Chapter 2.
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)