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HMRC internal manual

Corporate Finance Manual

HM Revenue & Customs
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Other tax rules on corporate finance: deduction of tax: certificates


ITA07/S975 imposes a duty on any person making a payment under deduction of tax to provide the recipient of the payment, on written request, with a statement setting out the gross amount of the payment, the tax deducted and the amount actually paid.

A bank or other deposit-taker that deducts tax from interest must therefore supply a certificate if the investor asks for one in writing. It is not obliged to send certificates routinely to all investors, although many banks do. It cannot charge the investor for the certificate, although it can make a charge for a duplicate.

Enforcement of the statutory duty lies with the investor, not with HMRC. HMRC staff who are told by a customer that he or she has been unable to obtain a certificate of tax deducted should be told of their legal right, and advised to take up the matter with the bank (or other payer of interest) concerned.