Part 15Deduction of income tax at source

Chapter 3Deduction from certain payments of yearly interest

Exceptions from duty to deduct

F1888CInterest distributions of certain open-ended investment companies

The duty to deduct a sum representing income tax under section 874 does not apply to a payment of yearly interest under section 373 of ITTOIA 2005 (in the case of certain open-ended investment companies, payments of yearly interest treated as made where distributable amount shown in accounts as yearly interest).