CTM49390 | Building societies: deduction of income tax: deduction of income tax from interest on annuities or other annual payments - return period

Building societies are required to account for and pay Income Tax in respect of annuities or other annual payments from which tax is deductible under ITA07/S901.

As outlined in CTM49380, this tax is accounted for and paid at the same time as other Income Tax deducted.