Income Tax Act 2007 section 858

Declarations of non-UK residence: individuals

Section 858 sets out the requirements for individuals to declare non-UK residence in order for their investments to be paid gross (without income tax deducted at source).

• This section applies to investments that meet the individual interest condition described in section 856(3) of the Income Tax Act 2007.
• To avoid an investment being treated as a "relevant investment" (one from which tax must be deducted), the individual must provide a declaration of non-UK residence in a prescribed or authorised format containing specified information.
• Where an investment is held by more than one individual, interest will only be paid gross if all the individuals are non-UK resident — it is not sufficient for just some of them to be non-resident.
• The declaration requirements derive from earlier provisions in the Income and Corporation Taxes Act and the building society regulations, consolidated and clarified in this section.