{
  "url": "https://openlegislation.uk/finance-act-1981/section-134",
  "json_url": "https://openlegislation.uk/finance-act-1981/section-134.json",
  "legislation": "ukpga/1981/35",
  "legislation_title": "Finance Act 1981",
  "legislation_url": "https://openlegislation.uk/finance-act-1981",
  "path": "section/134",
  "kind": "section",
  "number": "134",
  "heading": "Special tax on banking deposits.",
  "text": "(1) Every person who on 10th March 1981 was carrying on a banking business in the United Kingdom shall be chargeable for the year beginning on 1st April 1981 with a tax (to be known as the special tax on banking deposits) if the average chargeable deposits held by him in the base period exceeded £15 million.\n(2) The amount of tax chargeable in the case of any person shall be equal to 2 per cent. of the excess referred to in subsection (1) above or, if the excess is more than £200 million, the aggregate of 2 per cent. of the first £200 million and 2½ per cent. of the remainder.\n(3) Part I of Schedule 17 to this Act shall have effect for determining the base period and the chargeable deposits held by a person in that period; and Part II of that Schedule shall have effect with respect to the management and collection of the tax.\n(4) The tax paid by a person shall not be deductible in computing his income, profits or losses for the purposes of income tax or corporation tax.\n(5) In this section and Schedule 17 references to a person carrying on a banking business do not include references to the Bank of England or the central bank of any country outside the United Kingdom.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "X",
      "label": "X1",
      "text": "The text of s. 134 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and does not reflect any amendments or repeals which may have been made prior to 1.2.1991."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1981/35/section/134",
    "retrieved_at": "2026-10-29T10:14:04.400989+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."
}