Income Tax Act 2007 (c. 3)

Part 15 U.K. Deduction of income tax at source

Modifications etc. (not altering text)

C1 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)

Chapter 2 U.K. Deduction by deposit-takers and building societies

Investments which are not relevant investments: non-UK resident beneficiaries U.K.

859 Declarations of non-UK residence: Scottish partnerships U.K.

(1) This section applies to an investment with a deposit-taker or building society which meets the Scottish partnership condition in section 856(4).

(2) The investment is not a relevant investment if—

(a) an appropriate person has made the declaration set out in subsection (3) to the deposit-taker or building society,

(b) the declaration contains the undertaking set out in subsection (4),

(c) the declaration contains the name and principal residential address of each of the partners,

(d) the declaration contains such other information as the Commissioners for Her Majesty's Revenue and Customs may reasonably require, and

(e) the declaration is in such form as the Commissioners may prescribe or authorise.

(3) The declaration is that, at the time when the declaration is made, all of the partners of the partnership are not ordinarily UK resident.

(4) The undertaking is an undertaking by the person making it to notify the person to whom it is made if any partner in respect of whom it is made becomes ordinarily UK resident.

(5) In this section “appropriate person” means—

(a) the partnership that is beneficially entitled to the interest on the investment, or

(b) a person to whom any such interest is payable.