# The Investment Trusts (Dividends) (Optional Treatment as Interest Distributions) Regulations 2009, Regulation 22: Notification of interest distributions made without deduction of tax


(1) If, during a tax year, a company has made interest distributions without deduction of tax, the company must give notice of that fact to the Commissioners within 14 days of the end of that tax year.
(2) Notice given under paragraph (1)—
(a) must be given in writing, and
(b) has effect for the tax year in which the distribution was made and for subsequent tax years until the notice is withdrawn.
(3) A company that fails to comply with paragraph (1) is liable to a penalty not exceeding £3,000 determined in accordance with section 100 of the Taxes Management Act 1970.
(4) Sections 100A, 100B, 102, 103(4) and 118(2) of the Taxes Management Act 1970 apply to a penalty determined in accordance with paragraph (3).

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Source: https://www.legislation.gov.uk/uksi/2009/2034/regulation/22 (the official version)
Page: https://openlegislation.uk/investment-trusts-dividends-optional-treatment-as-interest-distributions-regulations-2009/regulation-22
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.