SCHEDULES

SCHEDULE 7Insurance premium tax

Part VIMiscellaneous

Destination of receipts

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All money and securities for money collected or received for or on account of the tax shall—

a

if collected or received in Great Britain, be placed to the general account of the Commissioners kept at the Bank of England under section 17 of the [1979 c. 2.] Customs and Excise Management Act 1979;

b

if collected or received in Northern Ireland, be paid into the Consolidated Fund of the United Kingdom in such manner as the Treasury may direct.