Part 17 Relocation of Section 199 of FA 2003
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

Part 17 Relocation of Section 199 of FA 2003

Taxes Management Act 1970 (c 9)

102

TMA 1970 is amended as follows.

103

After section 18A insert—

“18B Savings income: regulations about European and international aspects

(1)     The Treasury may make regulations for implementing and for dealing with matters arising out of or related to—

(a)     any EU obligation created with a view to ensuring the effective taxation of savings income under the law of the United Kingdom and the laws of the other member States, and

(b)     any arrangements made with a territory other than a member State with a view to ensuring the effective taxation of savings income under the law of the United Kingdom and the law of the other territory.

(2)     In this section “savings income†means—

(a)     interest, apart from interest of a prescribed description, or

(b)     other sums of a prescribed description.

(3)     The power to make regulations under this section is exercisable by statutory

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