Income Tax Act 2007 section 860

Declarations of non-UK residence: personal representatives

Section 860 sets out the requirements for personal representatives (such as executors or administrators of an estate) to make a declaration of non-UK residence in order to prevent certain investments from being treated as relevant investments subject to deduction of income tax at source.

• This section applies specifically to investments that meet the personal representative condition defined elsewhere in the Act.
• A formal declaration of non-UK residence must be made in a prescribed or authorised format and must contain specified information.
• If the declaration is not made, the investment will be treated as a relevant investment, meaning income tax will be deducted at source from the interest or other returns.
• The provision consolidates and replaces earlier rules found in ICTA 1988 and associated building society regulations.