12(1) If an officer thinks that a person beneficially entitled to a payment of interest is or has become liable to pay an amount by way of income tax on savings income the officer must notify the prescribed person accordingly.
12(2) If the prescribed person does not satisfy the officer within 30 days of the notification under paragraph (1) that the person beneficially entitled to the payment is not, or has not become, liable to pay an amount by way of income tax on savings income, the officer shall issue a notice of deduction to the relevant financial institution.
12(3) A notice of deduction must–
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