SCHEDULES

SCHEDULE 3 MACHINERY FOR ASSESSMENT, CHARGE AND PAYMENT OF INCOME TAX UNDER SCHEDULE C AND, IN CERTAIN CASES, SCHEDULE D

PART III OTHER PUBLIC REVENUE DIVIDENDS, FOREIGN DIVIDENDS AND PROCEEDS OF COUPONS

F16A

(1)

On the fourteenth day following the month in which a transaction such as is mentioned in paragraph 6 above is effected, income tax (at the basic rate in force at the time of payment) shall become due in respect of the relevant dividends or proceeds.

(2)

The tax shall be payable by the chargeable person on behalf of the persons entitled to the dividends or proceeds.

(3)

The tax shall be payable without the making of any assessment.