# Income Tax Act 2007, Section 921: Cases where interest on underlying securities paid gross

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

(1) This section applies to manufactured interest which is representative of interest on—
(a) gilt-edged securities, or
(b) securities which are not gilt-edged securities but on which the interest is payable without deduction of income tax.
(2) Section 919(2) does not require any deduction of a sum representing income tax to be made on the payment of the manufactured interest.
(3) In this section “manufactured interest” has the same meaning as in section 919.

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Source: https://www.legislation.gov.uk/ukpga/2007/3/section/921 (the official version)
Page: https://openlegislation.uk/income-tax-act-2007/section-921
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.