Dormant Bank and Building Society Accounts Bill [HL]

Oh, it was the noble Lord, Lord Higgins, who asked that question. I hoped that I was going to answer the noble Baroness’s point but I shall keep my 0 per cent record with regard to her. I think that the noble Lord, Lord Higgins, will be satisfied with my answer, which is why I was offering it to the noble Baroness, who has rejected it, of course. The changes in taxation will ensure that any interest credited to a dormant account on transfer to the reclaim fund or credited while the funds are held by the reclaim fund will be treated as paid for the purposes of income tax and tax reporting requirements only if a customer reclaims the money. Then it would be, otherwise not.