[888E Interest on certain peer-to-peer lending]
Income Tax Act 2007 (2007 c 3) | Legislation

[888E  Interest on certain peer-to-peer lending]

[(1)     The duty to deduct a sum representing income tax under section 874 does not apply to a payment of interest on an amount of peer-to-peer lending.

(2)     In subsection (1) “peer-to-peer lending” means credit in relation to which the condition in subsection (4) is met.

(3)     In this section—

“original borrower”, in relation to any credit, means the person to whom the credit is originally

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