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Section 18C: Regulations under section 18B: provision about "paying agents"

Taxes Management Act 1970 · 1970 c. 9View on legislation.gov.uk

Part III: OTHER RETURNS AND INFORMATION

Regulations under section 18B may, in particular, require paying agents—

to obtain and verify prescribed descriptions of information about the identity and residence of relevant payees to whom they make savings income payments, and
to provide to the Commissioners for Her Majesty's Revenue and Customs, or an officer of Revenue and Customs, prescribed descriptions of information about relevant payees to whom they make savings income payments and about the savings income payments which they make to them.

Regulations under section 18B may include provision for the inspection on behalf of the Commissioners of books, documents and other records of persons who are, or appear to an officer to be, paying agents.

In this section "paying agents" means persons of a prescribed description who make savings income payments to other persons.

In this section "relevant payees" means—

persons of a prescribed description who are resident (within the meaning of regulations under section 18B) in a prescribed territory, and
persons of any such other description as may be prescribed.

For the purposes of this section, a person makes savings income payments to another person if the person—

makes payments of savings income to the other person, or
secures the payment of savings income for the other person.

In this section "savings income" has the same meaning as in section 18B.

The descriptions of persons who may be prescribed under subsection (3) include, in particular, public officers and government departments.

The only territories which may be prescribed under subsection (4)(a) are—

the other member States, and
territories with which arrangements such as are mentioned in section 18B(1)(b) have been made.

About this text

This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.