Income Tax Act 2007

Introduction

890 Overview of Chapter

(1) This Chapter contains provision about the deduction of sums representing income tax from payments of UK public revenue dividends.

(2) Section 891 defines “UK public revenue dividend”.

(3) Section 892 contains a duty to deduct sums representing income tax from payments of UK public revenue dividends unless they are payable gross.

(4) Sections 893 and 894 explain when such payments are payable gross.

(5) Sections 895 and 896 make provision for the making, and withdrawal, of applications for payments to be subject to the duty to deduct under this Chapter.

(6) Section 897 contains a regulation-making power in connection with payments from which sums must be deducted under this Chapter.

891 Meaning of “UK public revenue dividend”

In this Chapter “UK public revenue dividend” means any income from securities which—

(a) is paid out of the public revenue of the United Kingdom or Northern Ireland, but

(b) is not interest on local authority stock.