Regulation 2 Interpretation

In these Regulations unless the context otherwise requires—

• “account-holder” means the holder of an account in relation to which a payment is made;

• “the Board” means the Commissioners of Inland Revenue;

• “deposit-taker” has the meaning given by section 481(2) of the Taxes Act^f1;

• “the Deposit-takers Regulations” means the Income Tax (Deposit-takers) (Interest Payments) Regulations 1990^f2;

• “the Management Act” means the Taxes Management Act 1970;

• “payment” means a payment of interest and, in relation to a payment in respect of which further information may be required to be contained in a section 17 return pursuant to these Regulations, includes “credit”;

• “section 17(1)” and “section 18(1)” means sections 17(1) and 18(1) respectively of the Management Act;

• “section 17 return” means a return under section 17(1);

• “section 18 information” means information required to be furnished under section 18(1);

• “the Taxes Act” means the Income and Corporation Taxes Act 1988^f3;

• “year” means a year beginning with 6th April in any year and ending with 5th April in the following year.