Valid from 06/04/2005
(1)A person liable to income tax under this Chapter is treated as having paid income tax at the dividend ordinary rate on the amount charged under this Chapter.
(2)The income tax treated as paid under subsection (1) is not repayable.
(3)The amount on which an individual is treated under subsection (1) as having paid income tax is reduced if subsection (4) applies.
(4)This subsection applies if the individual's total income is reduced by any deductions which fall to be made from the part of the income charged under this Chapter.
(5)The reduction is equal to the total amount of those deductions.