Part 6Exempt income
Chapter 9Other income
Interest only income
F1753AInterest on unpaid relevant contributions
(1)
No liability to income tax arises in respect of interest paid in compliance with a requirement in a compliance notice or an unpaid contributions notice to pay interest in respect of unpaid relevant contributions.
(2)
In this section—
“compliance notice” means a notice under section 35 of the Pensions Act;
“the Pensions Act” means the Pensions Act 2008 or the Pensions (No.2) Act (Northern Ireland) 2008;
“unpaid contributions notice” means a notice under section 37 of the Pensions Act;
“unpaid relevant contributions” has the same meaning as in section 38(2)(a) of the Pensions Act.