Commentary on Sections Overview Overview Section 858: Declarations of non-UK residence: individuals
2601.This section applies to investments satisfying the individual interest condition set out in section 856(3). It is based on sections 481(5) and 482(2), (2A) and (6) of ICTA and regulations 2, 4(1)(a) and (b) and 11 of the building society regulations.
2602.The section confirms that a declaration of non-UK residence in a prescribed or authorised format containing certain information is required if the investment is not to be treated as a relevant investment (subsection (2)). See Change 130 in Annex 1.
2603.The section also makes clear that payments will be made gross only where all the individuals are non-UK resident. See Change 127 in Annex 1.