Policy paper

Deduction of Income Tax from savings income

This tax information and impact note ends the requirement for tax to be deducted from interest distributions made by certain investment schemes.

• From: HM Revenue & Customs
• Published: 5 December 2016

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Deduction of Income Tax from savings income

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This measure ends the requirement for tax to be deducted from interest distributions made by certain investment schemes - open-ended investment companies (OEICs), authorised unit trusts (AUTs) and Investment trust companies (ITCs) - so that investors will receive the income without tax deducted.

Published 5 December 2016