Statutory Instruments
2012 No. 756
Taxes
The Reporting of Savings Income and Interest Payments (Data-gathering) Regulations 2012
Made
8th March 2012
Laid before the House of Commons
9th March 2012
Coming into force
for the purpose of regulation 3
31st March 2012
for the purpose of regulation 2
1st April 2012
The Treasury make regulation 1(1) and (2) and 2 of these Regulations exercising their power in section 18B of the Taxes Management Act 1970( 1 ).
The Commissioners for Her Majesty’s Revenue and Customs make regulations 1(1) and (3) and 3 of these Regulations exercising their powers in section 17(5) and (6) of that Act( 2 ).
Citation and Commencement
1. —(1) These Regulations shall be cited as the Reporting of Savings Income and Interest Payments (Data-gathering) Regulations 2012.
(2) Regulation 2 shall come into force on 1st April 2012.
(3) Regulation 3 shall come into force on 31st March 2012.
Amendment of the Reporting of Savings Income Information Regulations 2003
2. —(1) Amend the Reporting of Savings Income Information Regulations 2003( 3 ) as follows.
(2) In regulations 10(2)(c) and 12(2)(d) omit “is not required or if it is and it”.
(3) In regulation 15(4) from “section 17” to the end substitute “paragraph 1 of Schedule 23 to the Finance Act 2011(data-gathering powers)( 4 )”.
Revocations
3. —(1) The following instruments are revoked—
(a) the Income Tax (Interest Payments) (Information Powers) Regulations 1992( 5 );
(b) the Income Tax (Interest Payments) (Information Powers) (Amendment) Regulations 2001( 6 ); and
(c) the Income Tax (Interest Payments) (Information Powers) (Amendment) Regulations 2008( 7 )
(2) Regulations 3 and 4 of the Dormant Bank and Building Society Accounts (Tax) Regulations 2011( 8 ) are also revoked.
Michael Fabricant
James Duddridge
Two of the Lords Commissioners of Her Majesty’s Treasury
8th March 2012
Dave Hartnett
Steve Lamey
Two of the Commissioners for Her Majesty’s Revenue and Customs
7th March 2012
1970. c. 9 ; section 18B was inserted by paragraph 103 of Schedule 7 to the Taxation (International and Other Provisions) Act 2010 (c. 8) .
Section 17(5) and (6) were inserted by section 92 of the Finance Act 1990 (c. 29) and amended by section 145 of the Finance Act 2000 (c. 17) . Section 17 is repealed from 1st April 2012 by paragraph 51 of Schedule 23 to the Finance Act 2011 (c. 11) .
S.I. 2003/3297 ; regulations 10 and 12 were amended by S.I. 2005/1539 . There are other amendments but none are relevant.