Related Commentary  Related HMRC Manuals


The heading substituted by Co-operative and Community Benefit Societies Act 2014, s. 151 and Sch. 4, para. 110(2) with effect from 1 August 2014 (subject to the provisions of Sch. 5 and 6). The former heading was “Industrial and provident society payments”.

887(1)  The duty to deduct a sum representing income tax under section 874 does not apply to either of the following payments if they are payable to a person whose usual place of abode is in the United Kingdom–

(a)a payment of interest made by a registered society in respect of any mortgage, loan, loan stock or deposit, or

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