Part 10

Miscellaneous income
Chapter 7

Annual payments not otherwise charged

Overview of Chapter
976
1
This Chapter—
a
applies the charge to corporation tax on income to annual payments not otherwise charged to corporation tax (see section 977), ...
b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
The following are also relevant to the tax treatment of annual payments within this Chapter—
a
section 687A(3) of ICTA (discretionary payments by trustees to companies),
b
section 494 of ITA 2007 (grossing up of discretionary payment and payment of income tax),
c
section 848 of ITA 2007 (under which a sum representing income tax deducted under Chapter 6 or 7 of Part 15 of that Act (deduction from annual payments, patent royalties and other payments connected with intellectual property) from an annual payment within this Chapter is treated as income tax paid by the recipient), and
d
Chapter 8 of Part 15 of ITA 2007 (special provision in relation to royalties).
S. 976(1)(b) and the word immediately preceding it repealed (with effect in accordance with Sch. 39 para. 21(3) of the amending Act) by Finance Act 2012 (c. 14), Sch. 39 para. 22(2)