Corporation Tax Act 2009 section 1281

Income from savings certificates

Section 1281 provides a corporation tax exemption for income arising from authorised savings certificates, subject to Treasury limits on holdings.

• Income from authorised savings certificates is exempt from corporation tax.
• A savings certificate is authorised provided its acquisition did not breach Treasury regulations limiting the amount a person may hold.
• The exemption can apply in part where a company holds multiple certificates and only some fall within the permitted limits.
• Savings certificates include national savings certificates, war savings certificates, and equivalent Northern Irish certificates (but not Ulster Savings Certificates, which are covered separately by section 1282).