Revenue Note for Guidance
This section provides that returns of special term accounts must be made by relevant deposit takers.
(1) The return must be made by the relevant deposit taker by 31 March in each year of assessment to the “appropriate inspector”. This is the inspector who gives notice in writing to the relevant deposit taker that he or she is the inspector to whom the return is to be delivered or, where there is no such inspector, the inspector of returns (as defined in section 2).
(2) The return must specify:
As no new Special Term Accounts can be opened after the 16th October 2013, by virtue of Section 23, Finance (No.2) Act 2013, the final return under section 264B will be due by the 31st March 2014.
Relevant Date: Finance Act 2021