Notification by society or institution of intention to operate accounts
- Notify HMRC before operating tax-exempt savings accounts Trader
UK Statutory Instrument
1990
United Kingdom
The Tax-exempt Special Savings Account Regulations 1990
At a glance
What's here
8 compliance obligations
Who this Act binds
Business-side actors with duties under this Act, ranked by how often they appear.
- Any Person 5
- Trader 3
Other Acts binding the same actors
For each actor bound by this Act, the other UK Acts that bind them most often. Useful for understanding the full compliance landscape facing each role.
Any Person also bound by 2337 other Acts (top 5 shown)
- Human Medicines Regulations 2012 2012 169 duties
- Merchant Shipping Act 1995 1995 144 duties
- Insolvency (England and Wales) Rules 2016 2016 101 duties
- Road Traffic Act 1988 1988 95 duties
- Air Navigation Order 2016 2016 95 duties
Traders also bound by 826 other Acts (top 5 shown)
- Value Added Tax Regulations 1995 1995 413 duties
- Companies Act 2006 2006 243 duties
- The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 2008 114 duties
- Insolvency (England and Wales) Rules 2016 2016 62 duties
- Building Societies Act 1986 1986 56 duties
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
Conditions for application for an account to be opened
- Do not accept TESSA applications from ineligible individuals Any Person
Transfer of accounts
- Provide account transfer details and declaration to new provider within 30 days Any Person
Society or institution ceasing to act
- Notify HMRC and account-holder before ceasing to operate a TESSA account Any Person
Society or institution ceasing to be entitled to operate accounts
- Notify HMRC immediately if you lose authorisation or enter insolvency Any Person
Return of aggregate information by society or institution
- Submit quarterly aggregate information returns on tax-exempt savings accounts Trader
Return of individual information by society or institution
- Submit annual account holder returns to HMRC Trader
Records to be kept by society or institution
- Keep records of tax-exempt special savings accounts for at least two years after closure Any Person
Browse 8 other sections — procedural / definitional / commencement
Citation and commencement
Interpretation
Introductory
Additional condition as to transferability
Prohibition notices
Appeals against prohibition notices
Information to be provided to the Board
Inspection of records by officer of the Board
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