Income Tax (Trading and Other Income) Act 2005 (c. 5)

Part 4 Savings and investment income

Chapter 2 Interest

Other income taxed as interest

377 Date when interest payments under section 376 made

(1) This section applies for determining the date on which payments of interest under section 376 are treated as made.

(2) The date on which the payments are treated as made depends on whether a date is specified by or in accordance with the trust’s terms for any distribution for the distribution period in question.

(3) If such a date is so specified, the payments are treated as made on that date.

(4) If no such date is so specified, the payments are treated as made on the last day of that period.