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HMRC internal manual

Compliance Handbook

From
HM Revenue & Customs
Updated
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Data gathering: Relevant data-holders and relevant data: Interest etc: Relevant data - Regulation 8

For payment made when a certificate has been given under Regulation 5 of the Income Tax (Deposit-takers and Building Societies) (Interest Payments) Regulations 2008 that the person beneficially entitled to the payment is unlikely to be liable to any income tax for the year in which the payment was made, then the relevant data for a data-holder through whom interest is paid or credited, see CH28620, is

  1. the name and address of the person, or persons for whom the certificate was issued in connection with the payment (“the beneficiary”) if other than the person or persons to whom the payment was made,
  2. the date of birth of the beneficiary,
  3. the national insurance number or tax identification number of the beneficiary (or confirmation that a national insurance number or tax identification number is not held) for any account opened on or after 6 April 2013, and for any account opened earlier if such number is provided to the deposit-taker or building society,
  4. notification of the fact that the account in respect of which the payment was made is or was one in connection with which a certificate or certificates had been given which had not ceased to be valid at the 5 April in the year in which the payment was made or at the date of closure of the account, if earlier in that year,
  5. the reference number of the account referred to in (d) above and, where necessary for identifying the account, the reference number or other identifier of the branch of the payer where the account is held,
  6. where the payment was made to two or more account-holders each of whom was beneficially entitled to the payment, notification of that fact and, if known, the number of such persons,
  7. the national insurance number or tax identification number of persons referred to in (f) above, other than the beneficiary referred to in (b) and (c) above (or confirmation that a national insurance number or tax identification number is not held) for any account opened on or after 6 April 2013, and for any account opened earlier if such number is provided to the deposit-taker or building society,
  8. where a certificate was given by or on behalf of one, or more, but not all, of the persons referred to in (f) above and had not ceased to be valid at the 5 April in the year in which the payment was made or at the date of closure of the account, if earlier in that year, notification of those facts,
  9. where the payment was the first payment made in respect of an account, notification of that fact, and
  10. where the payment was in a currency other than sterling and the amount of the payment is recorded in that currency in the data provided under a data-holder notice notification of the fact that the amount is so recorded and the specification of the currency concerned.

FA11/SCH23/PARA12

SI 2012/847/REG8