Statutory Instruments
2002 No. 1968
INCOME TAX
The Income Tax (Prescribed Deposit-takers) Order 2002
Made
25th July 2002
Laid before the House of Commons
25th July 2002
Coming into force
1st October 2002
The Treasury, in exercise of the powers conferred upon them by sections 481(2)(f) and 482(10) of the Income and Corporation Taxes Act 1988( 1 ) hereby make the following Order:
Citation and commencement
1. This Order may be cited as the Income Tax (Prescribed Deposit-takers) Order 2002 and shall come into force on 1st October 2002.
Prescribed deposit-takers
2. —(1) For the purposes of section 481(2)(f) of the Income and Corporation Taxes Act 1988, a person who is authorised for the purposes of the Financial Services and Markets Act 2000( 2 ) and whose business consists wholly or mainly of dealing in financial instruments as principal is a class of person prescribed in relation to all relevant deposits.
(2) In paragraph (1) above—
-
“financial instruments” has the same meaning as in section 349(5) and (6) of the Income and Corporation Taxes Act 1988 ( 3 );
-
“relevant deposits” has the same meaning as in section 481(4) of that Act ( 4 ).
Ian Pearson
Jim Fitzpatrick
Two of the Lords Commissioners of Her Majesty’s Treasury
25th July 2002
Section 349(5) and (6) was inserted by section 95 of the Finance Act 2002 (c. 23) .
Section 481(4) was amended by section 86(1) of the Finance Act 1995 (c. 4) .