# The Reporting of Savings Income and Interest Payments (Data-gathering) Regulations 2012, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations make a consequential amendment and revocations following the repeal of Section 17 of the Taxes Management Act 1970 by paragraph 51 of Schedule 23 to the Finance Act 2011 (c. 11) (data-gathering powers) (“Schedule 23”). There is no power in Schedule 23 to make consequential amendments or revocations.
Regulation 2 of these Regulations amends the Reporting of Savings Income Information Regulations 2003 (S.I. 2003/3297). It makes a consequential amendment to replace the reference to section 17 of the Taxes Management Act 1970 (c. 9) with a reference to paragraph 1 of Schedule 23. It also corrects a minor error in regulations 10(2)(c) and 12(2)(d) of those regulations.
Regulation 3 revokes the Income Tax (Interest Payments) (Information Powers) Regulations 1992 (S.I. 1992/15) and its amending instruments from 31st March 2012. Schedule 23 comes into force on 1st April 2012. The provisions in these regulations will be replaced by the Data-gathering Powers (Relevant Data) Regulations 2012.
A Tax Information and Impact Note has not been prepared for this instrument as it contains no substantive changes to tax policy.

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Source: https://www.legislation.gov.uk/uksi/2012/756/note (the official version)
Page: https://openlegislation.uk/reporting-of-savings-income-and-interest-payments-data-gathering-regulations-2012/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.