PART XIX SUPPLEMENTAL
Miscellaneous
821 Under-deductions from payments made before passing of annual Act.
M11
Where, in any year of assessment F1or accounting period, any half-yearly or quarterly payments F2(or half-periodic or quarterly payments) have been made on account of any interest, dividends or other annual profits or gains, previously to the passing of the Act imposing income F3or corporation tax for that year F4or period, and tax has not been charged thereon or deducted therefrom or has not been charged thereon or deducted therefrom at the rate ultimately imposed for that year F4or period—
a
b
the agents entrusted with the payment of the interest, dividends or other annual profits or gains shall furnish to the Board a list containing the names and addresses of the persons to whom payments have been made and the amount of those payments, upon a requisition made by the Board in that behalf.
2
Any person liable to pay any rent, interest or annuity, or to make any other annual payment—
a
shall be authorised—
i
to make any deduction on account of income tax for any year of assessment which he has failed to make previously to the passing of the Act imposing the tax for that year, or
ii
to make up any deficiency in any such deduction which has been so made,
on the occasion of the next payment of the rent, interest or annuity or making of the other annual payment after the passing of the Act so imposing the tax, in addition to any other deduction which he may be by law authorised to make; and
b
shall also be entitled, if there is no future payment from which the deduction may be made, to recover the sum which might have been deducted as if it were a debt due from the person as against whom the deduction could originally have been made if the Act imposing the tax for the year had been in force.
3
Subsection (2) above shall apply with respect to—
F9a
any payment to which section 906 of ITA 2007 applies (certain royalties etc where usual place of abode of owner is abroad), and
b
any royalty or other sum paid in respect of the user of a patent; F12. . .
F12c
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
as it applies with respect to any rent, interest, annuity or other annual payment.
4
In this section “interest” and “dividends” do not include any interest or dividend which is a distribution.