Part 15

Deduction of income tax at source
Chapter 2

Meaning of “relevant investment” for purposes of section 876

Deposit-takers and relevant investments

Meaning of “investment” and “deposit”
855
1
In this Chapter, and section 876, “
investment
” means a deposit with a deposit-taker.
2
In this Chapter “deposit” means a sum of money paid on terms which mean that it will be repaid (with or without interest)—
a
on demand, or
b
at a time or in circumstances agreed by or on behalf of the person who pays it and the person who receives it.
Pt. 15 Ch. 2 heading substituted (with effect in accordance with Sch. 6 para. 28 of the amending Act) by Finance Act 2016 (c. 24), Sch. 6 para. 4
S. 855(1) substituted (with effect in accordance with Sch. 6 para. 28 of the amending Act) by Finance Act 2016 (c. 24), Sch. 6 para. 9
Pt. 15 modified (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), ss. 551(4), 1329(1) (with Pts. 1, 2, Sch. 2 para. 78)