UK Statutory Instrument 2009 United Kingdom

The Saving Gateway Accounts Regulations 2009

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At a glance

What's here

10 compliance obligations

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.

s.007

Maturity period (and payment of maturity payments or death payments)

  • Pay maturity or death payments on Saving Gateway accounts within 21 days
s.008

Account ceasing to be a Saving Gateway account (and rollover certificates)

  • Provide rollover certificate to account holder on request after maturity
s.012

Statements for an account

  • Send regular account statements and passbook updates
s.013

Conditions for application to open an account

  • Refuse Saving Gateway accounts if eligibility or application is invalid
s.014

Account provider – qualifications and Commissioners’ approval

  • Obtain HMRC approval before operating Saving Gateway accounts
s.016

Account provider – withdrawal by Commissioners of approval

  • Notify account holders if HMRC withdraws your approval as an account provider
s.018

Account provider ceasing to qualify

  • Notify HMRC and account holders if you cease to qualify as an approved account provider
s.019

Transfer of accounts to other account providers

  • Provide transfer notice when transferring Saving Gateway accounts
s.022

Monthly return and financial claim

  • Submit monthly return and financial claim to HMRC
s.023

Records to be kept by account provider

  • Keep records of Saving Gateway accounts for 3 years and produce them to HMRC on request
Browse 15 other sections — procedural / definitional / commencement
s.001

Citation and commencement

s.002

Interpretation

s.003

Eligible persons – entitlement to working tax credit or child tax credit

s.004

Eligible persons – connection with the U.K.

s.005

Notices of eligibility

s.006

Opening of account by a person who has received a notice of eligibility

s.009

Government contribution rate

s.010

General requirements for accounts

s.011

Limit on sums paid into the account

s.015

Approved account provider – appointment of tax representative

s.017

Approved account provider ceasing to act

s.020

Recoupment of maturity payments and death payments etc.

s.021

“Repair” of invalid accounts

s.024

Information to be provided to the Commissioners

s.025

Inspection of records by officer of Revenue and Customs

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