http://www.legislation.gov.uk/ukpga/1992/48/section/29Finance (No. 2) Act 1992 An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with Finance.1992-07-16texttext/xmlenStatute Law Database2024-05-17Expert Participation2021-08-01 Part II Income Tax, Corporation Tax and Capital Gains TaxChapter I General Interest, dividends and distributions Returns of interest.291In section 17 of the Taxes Management Act 1970 (returns of interest) in subsection (4) (interest not required to be included in return if declaration that person beneficially entitled to interest not ordinarily resident in UK) the words from “and if a person" to the end of the subsection shall cease to have effect and after that subsection there shall be inserted the following subsections—4AIf a person to whom any interest is paid or credited in respect of any money received or retained in the United Kingdom by notice in writing served on the person paying or crediting the interest—ahas declared that the person beneficially entitled to the interest is a company not resident in the United Kingdom, andbhas requested that the interest shall not be included in any return under this section,the person paying or crediting the interest shall not be required to include the interest in any such return.4BSubsection (4C) below shall apply where—aas a result of a declaration made under section 481(5)(k) of the principal Act and the operation of section 482(5) of that Act in relation to that declaration, there is no obligation under section 480A(1) of that Act to deduct a sum representing income tax out of any interest paid or credited in respect of any money received or retained in the United Kingdom, andbthe person who makes the declaration referred to in paragraph (a) above, by notice in writing served on the person paying or crediting the interest, requests that the interest shall not be included in any return under this section.4CWhere this subsection applies, the person paying or crediting the interest shall not be required to include the interest in any return under this section.2This section shall apply to interest paid or credited after the day on which this Act is passed.1970 c. 9.