Related Commentary  Related HMRC Manuals

1282(1)  No liability to corporation tax arises in respect of income from authorised Ulster Savings Certificates if condition A or B is met.

1282(2)  Condition A is that–

(a)the holder purchased them, and

(b)at the time of the purchase the holder was resident in Northern Ireland.

1282(3)  Condition B is that the holder is so resident when they are repaid.

1282(4)  An Ulster Savings Certificate is authorised so far as its acquisition was not prohibited by regulations made by the Department of Finance and Personnel limiting a person's holding.

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