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Paragraph 12

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

A person by or through whom interest is paid or credited is a relevant data-holder.

(2)

For the purposes of this paragraph, the following are to be treated as interest—

(a)

a dividend in respect of a share in a building society,

(b)

an amount to which a person holding a deeply discounted security is entitled on the redemption of that security,

(c)

a foreign dividend, and

(d)

an alternative finance return.

(3)

In sub-paragraph (2)—

  • “alternative finance return” means—

    1. (a)

      an alternative finance return within the meaning of Part 10A of ITA 2007, and

    2. (b)

      an alternative finance return within the meaning of Part 6 of CTA 2009;

  • “building society” means a building society within the meaning of the Building Societies Act 1986;

  • “deeply discounted security” has the same meaning as in Chapter 8 of Part 4 of ITTOIA 2005;

  • “foreign dividend” means any annual payment, interest or dividend payable out of, or in respect of the funds or securities of—

    1. (a)

      a body of persons that is not resident in the United Kingdom, or

    2. (b)

      a government or public or local authority in a country outside the United Kingdom.

Notes on Schedule 23

Modifications

C1

Sch. 23 applied by S.I. 2009/470 reg. 33(1) (as substituted (6.4.2013) by The Education (Student Loans) (Repayment) (Amendment) Regulations 2013 (S.I. 2013/607), regs. 1(1), 9))

C2

Sch. 23 applied (16.6.2016) (with application in accordance with reg. 1 of the amending S.I.) by The Education (Postgraduate Masters Degree Loans) Regulations 2016 (S.I. 2016/606), regs. 1(1), 43(1)