Point in time view as at 31/12/2020.
Finance Act 2016, Paragraph 2 is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
2U.K.In section 876 of ITA 2007 (interest paid by deposit-takers), for subsections (1) and (2) substitute—
“(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.”
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