Income Tax Act 2007 (c. 3)

Part 15 U.K. Deduction of income tax at source

Chapter 11 U.K. Payments between companies etc: exception from duties to deduct

Excepted payments U.K.

935 PEP and ISA managers U.K.

(1) A payment is an excepted payment if each of the following conditions is met in relation to the payment.

(2) The person to whom the payment is made must be, or must be the nominee of, the plan manager of a plan of a kind to which regulations under Chapter 3 of Part 6 of ITTOIA 2005 (income from individual investment plans) apply.

(3) The plan manager must receive the payment in respect of investments under the plan.