Part II Income Tax, Corporation Tax and Capital Gains Tax
Chapter I General
Interest: general
59 Interest payments to persons not ordinarily resident in UK.
In section 349 of the Taxes Act 1988 (annual interest etc.) in subsection (3) (exceptions from requirement to deduct tax from interest payments) at the end of paragraph (g) there shall be inserted “
or
”
and after that paragraph there shall be inserted the following paragraph—
h
to any payment in respect of which a liability to deduct income tax would, but for section 481(5)(k), be imposed by section 480A(1).