Part 4

Savings and investment income
Chapter 1

Introduction

Priority between Chapters within Part 4
367
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) , 378A (offshore fund distributions) or 379 ( payments by registered societies or certain co-operatives ), and
b
Chapter 3 or Chapter 4 (or both),
is dealt with under Chapter 2.
Ss. 353-368 modified (7.4.2005) by Finance Act 2005 (c. 7), s. 51(2)
Words in s. 367(3)(a) inserted (with effect in accordance with s. 39(5) of the amending Act) by Finance Act 2009 (c. 10), s. 39(4)(a)
Words in s. 367(3)(b) inserted (with effect in accordance with s. 39(5) of the amending Act) by Finance Act 2009 (c. 10), s. 39(4)(b)
Words in s. 367(3) substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 93 (with Sch. 5)