# Income Tax Act 2007, Section 876: Interest paid by deposit-takers

Extent: E+W+S+N.I.

(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.

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Source: https://www.legislation.gov.uk/ukpga/2007/3/section/876 (the official version)
Page: https://openlegislation.uk/income-tax-act-2007/section-876
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.