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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Regulations)

These Regulations amend the Income Tax (Building Societies) (Dividends and Interest) Regulations 1990 (S.I. 1990/2331) so that payments by building societies of alternative finance return or profit share return in relation to certain alternative finance arrangements (introduced by sections 46 to 57 of, and Schedule 2 to, the Finance Act 2005 (c. 7)) can be paid without deduction of tax.

This Order imposes no new costs on business.