Part 4Savings and investment income
Chapter 4Dividends from non-UK resident companies
Charge to tax on dividends from non-UK resident companies
402Charge to tax on dividends from non-UK resident companies
1
Income tax is charged on dividends of a non-UK resident company.
2
For exemptions, see in particular section 770 (amounts applied by SIP trustees acquiring dividend shares or retained for reinvestment).
3
Subsection (1) is also subject to section 498 of ITEPA 2003 (no charge on shares ceasing to be subject to SIP in certain circumstances).
4
In this Chapter “dividends” does not include dividends of a capital nature.
403Income charged
1
Tax is charged under this Chapter on the full amount of the dividends arising in the tax year.
2
Subsection (1) is subject to—
section 406(2) and (3) (later charge where cash dividends retained in SIPs are paid over),
section 407(3) (dividend payment when dividend shares cease to be subject to SIP), and
Part 8 (foreign income: special rules).
404Person liable
1
The person liable for any tax charged under this Chapter is the person receiving or entitled to the dividends.
2
Subsection (1) is subject to—
section 406(4) (later charge where cash dividends retained in SIPs are paid over), and
section 407(4) (dividend payment when dividend shares cease to be subject to SIP).