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Legislation
Income Tax Act 2007

Crossheading Exceptions from duty to deduct

  • Section 875 Interest paid by building societies
  • Section 876 Interest paid by deposit-takers
  • Section 877 UK public revenue dividends
  • Section 878 Interest paid by banks
  • Section 879 Interest paid on advances from banks
  • Section 880 Interest paid on advances from building societies
  • Section 881 National Savings Bank interest
  • Section 882 Quoted Eurobond interest
  • Section 883 Interest on loan to buy life annuity
  • Section 884 Relevant foreign income
  • Section 885 Authorised persons dealing in financial instruments
  • Section 886 Interest paid by recognised clearing houses etc
  • Section 887 Payments made by registered societies
  • Section 888 Statutory interest
  • Section 888A Qualifying private placements
  • Section 888B Designated dividends of investment trusts
  • Section 888C Interest distributions of certain open-ended investment companies
  • Section 888D Interest distribution of certain authorised unit trusts
  • Section 888DA Payments of interest by a QAHC
  • Section 888E Interest on certain peer-to-peer lending
  1. Exceptions from duty to deduct
  2. National Savings Bank interest

Section 881 | National Savings Bank interest

From legislation.gov.uk

The duty to deduct a sum representing income tax under section 874 does not apply to a payment of interest on deposits with the National Savings Bank.

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