Part 15

Deduction of income tax at source
Chapter 19

General

Supplementary

Derivative contracts: exception from duties to deduct
980
1
Despite the provisions of this Part, a company is not required to deduct a sum representing income tax from a payment made under a derivative contract to which this section applies.
2
This section applies to a derivative contract if profits and losses arising from it are calculated in accordance with Part 7 of CTA 2009 .
Words in s. 980(2) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 718 (with Sch. 2 Pts. 1, 2)
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)