{
  "url": "https://openlegislation.uk/draft-taxation-of-regulatory-capital-securities-regulations-2013/regulation-5",
  "json_url": "https://openlegislation.uk/draft-taxation-of-regulatory-capital-securities-regulations-2013/regulation-5.json",
  "legislation": "ukdsi/2013/9780111106273",
  "legislation_title": "The Taxation of Regulatory Capital Securities Regulations 2013",
  "legislation_url": "https://openlegislation.uk/draft-taxation-of-regulatory-capital-securities-regulations-2013",
  "path": "regulation/5",
  "kind": "regulation",
  "number": "5",
  "heading": "Treatment of payments",
  "text": "(1) A payment in respect of a regulatory capital security is—\n(a) not a distribution for the purposes of the Tax Acts, but\n(b) is income chargeable under Chapter 2 of Part 4 of ITTOIA 2005 (interest) for the purposes of income tax.\n(2) In paragraph (1), “payment” does not include a repayment of the principal amount of the security.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "2005 c. 5."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2013/9780111106273/regulation/5",
    "retrieved_at": "2026-10-30T15:14:32.678605+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}