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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Regulations)

These Regulations make detailed tax provision for Saving Gateway Accounts, under the Saving Gateway Accounts Act 2009 (c. 8).

Regulation 1 provides for citation and commencement, and regulation 2 for interpretation.

Regulation 3 provides for exemption of income (or gains) of a Saving Gateway Account for tax purposes.

Regulations 4 to 6 deal with ancillary tax matters (including recoupment of tax relief wrongly given).

A full Regulatory Impact Assessment for the Saving Gateway was published on 4 December 2008, the date of the introduction of the Saving Gateway Accounts Bill.