Related Commentary  

4(1)  Section 851 does not apply in relation to–

(a)a payment of interest, or

(b)part of a payment of interest within regulation 13(2)(a) (joint accounts),

where, in respect of the person beneficially entitled to the payment or the part of the payment, a certificate has been supplied (see regulation 5) and has not ceased to be valid (see regulation 11).

This is subject to regulation 13(3).

4(2)  But paragraph (1) does not apply if–

(a)the provisions of section 629 of ITTOIA 2005 (income paid to relevant children of settlor) apply to the payment; or

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