The Income Tax (Interest Relief) (Qualifying Lenders) (No. 2) Order 1987 No. 2127

BAILII [Home] [Databases] [World Law] [Multidatabase Search] [Help] [Feedback]

United Kingdom Statutory Instruments
You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Income Tax (Interest Relief) (Qualifying Lenders) (No. 2) Order 1987 No. 2127
URL: http://www.bailii.org/uk/legis/num_reg/1987/uksi_19872127_en_1.html

[New search] [Help]

Statutory Instruments

1987 No. 2127

INCOME TAX

The Income Tax (Interest Relief) (Qualifying Lenders) (No. 2) Order 1987

Made

9th December 1987

The Treasury, in exercise of the powers conferred on them by paragraph 14(2) of Schedule 7 to the Finance Act 1982(1), hereby make the following Order:

1.  This Order may be cited as the Income Tax (Interest Relief) (Qualifying Lenders) (No. 2) Order 1987.

2.  The bodies named in article 3 below are prescribed for the purposes of Part IV of Schedule 7 to the Finance Act 1982 and shall become qualifying lenders with effect from the dates and in respect of the loans specified in the following paragraphs -

(a)with effect from the thirtieth day after the making of this Order, in relation to new loans (that is loans which are made on or after that day);

(b)with effect from the making of this Order, in relation to transferred loans (that is loans transferred from another qualifying lender on or after the making of this Order the interest on which is at the time of transfer relevant loan interest payable by a qualifying borrower);

(c)with effect from the 6th April 1988, in relation to other loans made by the body concerned before the thirtieth day after the making of this Order.

3.  The following are the bodies referred to in article 2 above -

David Lightbown

Michael Neubert

Two of The Lords Commissioners of Her Majesty's Treasury

9th December 1987

Explanatory Note

(This note is not part of the Order)

By article 2, the bodies named in article 3 are prescribed as qualifying lenders so that interest on qualifying loans made by them may be paid to them under deduction of tax under the tax deduction scheme introduced by the Finance Act 1982 from the dates specified in the Order.

Previous Orders made under paragraph 14(2) of Schedule 7 to the Finance Act 1982 which are in force are S.I. 1983/1907, S.I. 1984/1945, S.I. 1985/1697, S.I. 1986/386, S.I. 1986/1440, S.I. 1986/2191 and S.I. 1987/1224.

(1)

1982 c. 39; paragraph 14 of Schedule 7 was amended by section 17(3) and (4) of the Finance Act 1983 (c. 28) and by section 37(4) of the Finance Act 1985 (c. 54).

BAILII: Copyright Policy | Disclaimers | Privacy Policy | Feedback | Donate to BAILII
URL: http://www.bailii.org/uk/legis/num_reg/1987/uksi_19872127_en_1.html