The Income Tax (Building Societies) (Dividends and Interest) Regulations 1990
These Regulations, made under section 477A(1) of the Income and Corporation Taxes Act 1988 (“the 1988 Act”) and paragraph 16 of Schedule 5 to the Finance Act 1990, prescribe the cases in which a building society is required to deduct income tax from any dividend or interest paid or credited in any year of assessment in respect of shares in, or deposits with or loans to, the society, and to account for and pay income tax deducted to the Board.