Taxes Consolidation Act 1997 section 262

Statement furnished by relevant deposit taker

Section 262 requires financial institutions to provide depositors with a statement showing details of interest paid and DIRT deducted.

• A financial institution must automatically issue a statement to every depositor who receives interest on a relevant deposit.
• The statement must show the gross interest paid, the DIRT deducted, the net interest paid, and the date of payment.
• This obligation arises each time a payment (or crediting) of interest occurs.
• "Payment" of interest includes the crediting of interest to the depositor's account.