The Income Tax (Deposit-takers and Building Societies) (Interest Payments) Regulations 2008

Prescribed form of a certificate

8.—(1) A certificate must be—

(a) in writing, signed by a prescribed person, or

(b) if not in writing, recorded in writing by the relevant financial institution on behalf of a prescribed person.

(2) If the relevant financial institution operates a record system under which the original certificate is not retained, the relevant financial institution must make a record of the certificate.

(3) Where paragraph (1)(b) or (2) applies—

(a) a copy of the record of the certificate must be sent by the relevant financial institution to the prescribed person within 30 days of that record being made;

(b) the prescribed person must notify the relevant financial institution of any corrections required within 30 days from the date the copy is sent; and

(c) the relevant financial institution must incorporate any such corrections in a revised record which must be sent to the prescribed person as soon as possible.

(4) A certificate shall be regarded as being in writing if it was supplied—

(a) by telephonic facsimile transmission; or

(b) by electronic communication containing an electronic signature of the prescribed person.

(5) A certificate or a record of a certificate must be retained by a relevant financial institution in such manner as may be approved by the Commissioners for two years after the relevant financial institution has ceased to pay interest without deduction of a sum representing income tax in relation to a relevant investment.