[F1876Interest paid by deposit-takersU.K.
This section has no associated Explanatory Notes
(1)The duty to deduct a sum representing income tax under section 874 does not apply to a payment of interest on an investment if—
(a)the payment is made by a deposit-taker, and
(b)when the payment is made, the investment is a relevant investment.
(1A)In this section “deposit-taker”, “investment” and “relevant investment” have the meaning given by Chapter 2.]
Textual Amendments
F1S. 876(1)(1A) substituted for s. 876(1) (with effect in accordance with Sch. 6 para. 28 of the amending Act) by Finance Act 2016 (c. 24), Sch. 6 para. 2