I think that the noble Lord is wrong. Interest is normally deducted at 20 per cent on ordinary deposits. On special, fixed-term deposits of very large sums—let us say, £50,000—it can be paid gross.
Dormant Bank and Building Society Accounts Bill [HL]
Proceeding contribution from
Lord Monson
(Crossbench)
in the House of Lords on Monday, 10 December 2007.
It occurred during Debate on bills
and
Committee proceeding on Dormant Bank and Building Society Accounts Bill [HL].
Type
Proceeding contribution
Reference
697 c25GC
Session
2007-08
Chamber / Committee
House of Lords Grand Committee
Subjects
Librarians' tools
Timestamp
2023-12-16 02:27:24 +0000
URI
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