{
  "url": "https://openlegislation.uk/income-tax-act-2007/section-853",
  "json_url": "https://openlegislation.uk/income-tax-act-2007/section-853.json",
  "legislation": "ukpga/2007/3",
  "legislation_title": "Income Tax Act 2007",
  "legislation_url": "https://openlegislation.uk/income-tax-act-2007",
  "path": "section/853",
  "kind": "section",
  "number": "853",
  "heading": "Meaning of “deposit-taker”",
  "text": "(1) In this Chapter and section 876 “deposit-taker” means—\n(a) the Bank of England, or\n(b) a person to whom one of the following subsections or section 854 applies.\n(2) This subsection applies to a person—\n(a) who has permission under Part 4 of FISMA 2000 to accept deposits which are relevant investments, and\n(b) who is not—\n(i) a building society,\n(ii) a society registered within the meaning of the Friendly Societies Act 1974 (c. 46) or incorporated under the Friendly Societies Act 1992 (c. 40),\n(iii) a society registered as a credit union under the Co-operative and Community Benefit Societies Act 2014 or the Credit Unions (Northern Ireland) Order 1985 (S.I. 1985/1205 (N.I. 12)), or\n(iv) an insurance company within the meaning of section 275 of FA 2004.\n(3) This subsection applies to a company as defined in section 1(1) of the Companies Act 2006 (c. 46) —\n(a) in respect of which a resolution has been passed by a local authority under—\n(i) section 48(3) of the Banking Act 1979 (c. 37), or\n(ii) section 103(3) of the Banking Act 1987 (c. 22), and\n(b) which is exempt from the prohibition in section 19 of FISMA 2000 on accepting deposits which are relevant investments.\n(4) This subsection applies to a local authority.\n(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(6) This subsection applies to a person—\n(a) who is authorised for the purposes of FISMA 2000, and\n(b) whose business consists wholly or mainly of dealing in financial instruments as principal.\nFor the meaning of “financial instrument”, see section 984.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 853(1) inserted (with effect in accordance with Sch. 6 para. 28 of the amending Act) by Finance Act 2016 (c. 24), Sch. 6 para. 7"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 853(2)(b)(iii) substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 108 (with Sch. 5)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 853(3) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments) (Taxes and National Insurance) Order 2009 (S.I. 2009/1890), arts. 1(1), 3(2)(b)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "S. 853(5) omitted (31.12.2020) by virtue of The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 15(10) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2007/3/section/853",
    "retrieved_at": "2026-10-29T09:13:03.599581+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."
}