The Income Tax (Building Societies) (Dividends and Interest) (Amendment) Regulations 1992

Amendments to the principal Regulations

10.—(1) Regulation 12 shall be renumbered as paragraph (1) of that regulation.

(2) In paragraph (1) of regulation 12 after “section 17” there shall be inserted “(1) to (4)”.

(3) After paragraph (1) of regulation 12 there shall be added—

“(2) A building society shall, if so required by notice from an inspector, include in a return under the provisions referred to in paragraph (1) the further information specified in paragraph (3).

(3) The further information specified in this paragraph is—

(a) as regards a gross payment within regulation 4(1) (n)—

(i) the name and address of the person or, if more than one, each person beneficially entitled to the payment by or on behalf of whom a certificate under regulation 5 has been given (in paragraphs (ii) and (iii) referred to as “the beneficiary”) if other than the person or persons to whom the payment was made;

(ii) the date of birth of the beneficiary;

(iii) the national insurance number of the beneficiary if furnished to the building society pursuant to regulation 5 of, and the Schedule to, these Regulations;

(iv) notification of the fact that the account in respect of which the payment was made is or was one in connection with which a certificate or certificates under regulation 5 had been given which had not ceased to be valid at the 5th April in the year in which the payment was made or at the date of closure of the account, if earlier in that year;

(v) the reference number of the account referred to in paragraph (iv) and, where necessary for identifying the account, the branch of the building society where the account is held;

(vi) where the payment was made to two or more investors each of whom was beneficially entitled to the payment, notification of that fact and, if known, the number of such persons;

(vii) if furnished to the building society in connection with the account, the dates of birth and national insurance numbers of persons referred to in paragraph (vi) other than the beneficiary referred to in paragraphs (ii) and (iii);

(viii) where a certificate referred to in regulation 5 was given by or on behalf of one or more, but not all, of the persons referred to in paragraph (vi) and had not ceased to be valid at the 5th April in the year in which the payment was made or at the date of closure of the account, if earlier in that year, notification of those facts;

(ix) where the payment was the first payment made in respect of an account, notification of that fact;

(x) where the payment was in a currency other than sterling and the amount of the payment is recorded in that currency in a return under the provisions referred to in paragraph (1) of this regulation, notification of the fact that the amount is so recorded and specification of the currency concerned;

(b) as regards any other gross payment within regulation 4 or any payment to which regulation 3 applies—

(i) the reference number of the account in respect of which the payment was made and, where necessary for identifying the account, the branch of the building society where the account is held;

(ii) where the payment was made to two or more investors each of whom was beneficially entitled to the payment, notification of that fact and, if known, the number of such persons;

(iii) if furnished to the building society in connection with the account, the date of birth and national insurance number of the person or, where paragraph (ii) applies, each person to whom the payment was made;

(iv) where the payment made in the course of the year was the first payment in respect of an account, notification of that fact;

(v) where the payment was in a currency other than sterling and the amount of the payment is recorded in that currency in a return under the provisions referred to in paragraph (1) of this regulation, notification of the fact that the amount is so recorded and specification of the currency concerned.”.