{
  "url": "https://openlegislation.uk/income-tax-act-2007/section-863",
  "json_url": "https://openlegislation.uk/income-tax-act-2007/section-863.json",
  "legislation": "ukpga/2007/3",
  "legislation_title": "Income Tax Act 2007",
  "legislation_url": "https://openlegislation.uk/income-tax-act-2007",
  "path": "section/863",
  "kind": "section",
  "number": "863",
  "heading": "General client account deposits",
  "text": "(1) An investment is not a relevant investment if it is a general client account deposit.\n(2) An investment is a general client account deposit for the purposes of this section if—\n(a) it is a deposit held by a deposit-taker ... in a client account, and\n(b) provision made under any enactment requires the person whose account it is to make payments representing interest to some or all of the clients for whom, or on whose account, that person received the sums deposited in the account.\n(3) But an investment is not a general client account deposit if the account in which it is held is identified by the deposit-taker ... as one in which sums are held only for one or more particular clients of the person whose account it is.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 863 omitted (with effect in accordance with Sch. 6 para. 28 of the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 6 para. 14"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2007/3/section/863",
    "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."
}