Part 4Savings and investment income

Chapter 1Introduction

367Priority between Chapters within Part 4

(1)

Any income, so far as it falls within Chapter 2 (interest) and Chapter 8 (profits from deeply discounted securities), is dealt with under Chapter 8.

(2)

Any income, so far as it falls within Chapter 3 (dividends etc. from UK resident companies etc.) and another Chapter, is dealt with under Chapter 3 (but this is subject to subsection (3)).

(3)

Any income, so far as it falls within—

(a)

Chapter 2 (interest) as a result of section 372 (building society dividends) F1, 378A (offshore fund distributions) or 379 ( F2payments by registered societies or certain co-operatives ), and

(b)

Chapter 3 F3or Chapter 4 (or both),

is dealt with under Chapter 2.