C1Part 15Deduction of income tax at source
Annotations:
Modifications etc. (not altering text)
Chapter 5Deduction from payments of UK public revenue dividends
Payments which are payable gross
893Payments of UK public revenue dividends which are payable gross
1
A payment of a UK public revenue dividend is payable gross if—
a
it is a payment of interest on gross-paying government securities, and
b
no deduction at source application has effect in respect of the securities at the time the payment is made (see section 895).
2
In this Chapter “gross-paying government securities” means—
a
gilt-edged securities (see section 1024),
F1aa
securities, so far as they are not gilt-edged securities, issued or treated as issued under—
i
the National Loans Act 1939, or
ii
the National Loans Act 1968, or
b
securities which are the subject of a Treasury direction under section F2894(3).
Pt. 15 modified (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), ss. 551(4), 1329(1) (with Pts. 1, 2, Sch. 2 para. 78)