Part 2

Basic provisions
Chapter 2

Rates at which income tax is charged

Income charged at particular rates

Meaning of “dividend income”
19
1
This section applies for the purposes of the Income Tax Acts.
2
“Dividend income” is income which is—
a
chargeable under Chapter 3 of Part 4 of ITTOIA 2005 (dividends etc from UK resident companies),
b
chargeable under Chapter 4 of that Part (dividends from non-UK resident companies),
c
chargeable under Chapter 5 of that Part (stock dividends from UK resident companies),
d
chargeable under Chapter 6 of that Part (release of loan to participator in close company), or
e
a relevant foreign distribution chargeable under Chapter 8 of Part 5 of ITTOIA 2005 (income not otherwise charged).
3
In subsection (2) “relevant foreign distribution” means a distribution of a non-UK resident company which—
a
is not chargeable under Chapter 4 of Part 4 of ITTOIA 2005, but
b
would be chargeable under Chapter 3 of that Part if the company were UK resident.