A number of exceptions are provided, which seek to prevent an overlap of obligations or the unnecessary deduction of amounts which would only have to be repaid. These exceptions relate to payments of interest made by or out of:

Abuilding societies: unless it is compensation treated as a payment of yearly interest under s. 874(5A) (see ¶118-050) (ITA 2007, s. 875);

Bdeposit-takers:

(i)where the interest is paid on or after 6 April 2016 and the investment on which the interest is paid is a relevant investment (see ¶117-650) (ITA 2007, s. 876(1), (1A));

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