# Finance Act 2013, Paragraph 2


In section 874 (duty to deduct from certain payments of yearly interest), after subsection (5) insert—
“(5A) For the purposes of subsection (1) a payment of interest which is payable to an individual in respect of compensation is to be treated as a payment of yearly interest (irrespective of the period in respect of which the interest is paid).
(5B) But the Commissioners for Her Majesty's Revenue and Customs may make regulations which provide that subsection (5A) does not apply in the circumstances prescribed in the regulations.”

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Source: https://www.legislation.gov.uk/ukpga/2013/29/schedule/11/paragraph/2 (the official version)
Page: https://openlegislation.uk/finance-act-2013/schedule-11/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.