Related Commentary  Related HMRC Manuals

372(1)  Any dividend paid by a building society is treated as interest for the purposes of this Act.

372(2)  In this section “dividend”  includes any distribution (whether or not described as a dividend).


In s. 373(2), the words “includes any distribution (whether or not described as a dividend)” substituted for the words “has the meaning given by regulations made under section 477A(1) of ICTA (building societies: regulations for the deduction of tax)” by ITA 2007, s. 1027 and Sch. 1, para. 514, with effect from 6 April 2007.


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