Finance Act 2000

Relief in case of distributions by intermediary U.K.

13 (1) A claim for relief may be made under this paragraph where the intermediary—

(a) is a company,

(b) is treated as making a deemed Schedule E payment in any tax year, and

(c) either in that tax year (whether before or after that payment is treated as made), or in a subsequent tax year, makes a distribution.

(2) A claim for relief under this paragraph must be made by the intermediary by notice in writing given to the Inland Revenue.

(3) If on a claim being made the Inland Revenue are satisfied that relief should be given in order to avoid a double charge to tax, they shall give such relief by way of amending any assessment, by discharge or repayment of tax, or otherwise, as appears to them appropriate.

(4) Relief under this paragraph shall be given by treating the amount of the distribution as reduced, not the amount of the deemed Schedule E payment.

(5) The Inland Revenue shall exercise the power conferred by this paragraph so as to secure that so far as practicable relief is given by setting the amount of a deemed Schedule E payment—

(a) against relevant distributions of the same tax year before those of other years,

(b) against relevant distributions received by the worker before those received by another person, and

(c) against relevant distributions of earlier years before those of later years.

(6) Where the amount of a distribution is reduced under this paragraph, the amount of any associated tax credit is reduced accordingly.