SCHEDULES
SCHEDULE 1Minor and consequential amendments
Part 2Other enactments
Taxes Management Act 1970 (c. 9)
247
1
Amend section 17 (interest paid or credited by banks etc without deduction of income tax or after deduction of income tax) as follows.
2
In subsection (1) after “bank” insert “
or building society
”
.
3
In subsection (1A) for “section 840A of the principal Act” substitute “
section 991 of ITA 2007
”
.
4
After subsection (6) insert—
7
In the application of this section in relation to building societies, references to interest include references to dividends.
For this purpose “dividend” includes any distribution (whether or not described as a dividend).
5
In the sidenote after “banks” insert “
, building societies
”
.