Valid from 01/05/2001
(1)Where—
(a)a payment is made by a company without an amount representing the income tax on the payment being deducted from the payment,
(b)at the time the payment is made, the company reasonably believes that one of the conditions specified in section 349B is satisfied,
(c)if the company did not so believe, tax would be deductible from the payment under section 349, and
(d)neither of the conditions specified in section 349B is satisfied at the time the payment is made,
section 350 applies as if the payment were within section 349 (and Schedule 16 applies as if tax were deductible from the payment under section 349).
(2)In this section “company” includes a partnership of which any member is a company.]
Textual Amendments
F1Ss. 349A-349D inserted (with application in accordance with s. 85(4) of the amending Act) by Finance Act 2001 (c. 9), s. 85(1)