CFM75040 | Other tax rules on corporate finance: deduction of tax: deposit-taker

Deposit taker

‘Deposit-taker’ is defined at ITA07/S853. It includes banks - a bank, for this purpose, being any person within the definition at ITA07/S991 (1)(b) whose permission under Part 4 of the Financial Services and Markets Act (FSMA) 2000 to accept deposits includes permission to accept deposits that are ‘relevant investments’ (see CFM75050).

It also includes:

• the Bank of England,

• municipal banks,

• local authorities

• securities houses (persons whose business consists wholly or mainly in dealing in financial instruments, such as shares, debt securities and derivatives), and

• any other person or persons prescribed by Treasury Order.