Section 876 Interest paid by deposit-takersF1
United Kingdom
(1)
The duty to deduct a sum representing income tax under section 874 does not apply to a payment of interest on an investment if—
(a)
the payment is made by a deposit-taker, and
(b)
when the payment is made, the investment is a relevant investment.
(1A)
In this section “deposit-taker”, “investment” and “relevant investment” have the meaning given by Chapter 2.
Annotations
Textual amendments
- F1
S. 876(1)(1A) substituted for s. 876(1) (with effect in accordance with Sch. 6 para. 28 of the amending Act) by Finance Act 2016 (c. 24), Sch. 6 para. 2
Notes on Part 15
Modifications
- C1
Pt. 15 modified (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), ss. 551(4), 1329(1) (with Pts. 1, 2, Sch. 2 para. 78)