The Income Tax (Building Societies) (Annual Payments) Regulations 1991

Interpretation

2.  In these Regulations unless the context otherwise requires—

“the Board” means the Commissioners of Inland Revenue;

“payment” (except in relation to a payment to the Board) includes "credit";

“payment quarter” means a period of three months ending with the last day of February, May, August or November;

“the 1986 Regulations” mean the Income Tax (Building Societies) Regulations 1986(1);

“section 349(1) payment” means a payment by a building society of any annuity or other annual payment from which income tax is deductible under section 349(1) of the Taxes Act(2) and includes such a payment made after 28th February 1991 and before 6th April 1991 to which regulation 3 of the 1986 Regulations applied;

“Schedule 16” means Schedule 16 to the Taxes Act;

“the Taxes Act” means the Income and Corporation Taxes Act 1988.

(1)

S.I. 1986/482, amended by S.I. 1987/844, 1988/1011 and 1989/36.

(2)

Section 349 was amended by section 148 of, and Part IV of Schedule 14 to, the Finance Act 1988 (c. 39) and by paragraph 10 of Schedule 5 to the Finance Act 1990 (c. 29).