(1)[F3 Subsection (3) applies ] to income if it—
(a)is treated under section 656(3) or 657(4) (gross amount of estate income treated as bearing tax at the applicable rate) as bearing tax at F4... the dividend ordinary rate, and
(b)is not paid through a trustee.
F5(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)[F6 The income ] is treated as dividend income.
(4)[F7 Subsection (6) applies ] to income if it—
(a)is treated by section 662, read with section 656(3) or 657(4), as bearing tax at F8... the dividend ordinary rate, and
(b)is paid through a trustee.
F9(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(6)[F10 The income ] is treated as dividend income of the trustee.]
Textual Amendments
F1S. 680A inserted (6.4.2007 with effect as stated in s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), ss. 1027, 1034, Sch. 1 para. 566 (with transitional provisions and savings in Sch. 2)
F2Words in s. 680A heading omitted (with effect in accordance with Sch. 1 para. 65 of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 1 para. 62(8)
F3Words in s. 680A(1) substituted (with effect in accordance with Sch. 1 para. 65 of the amending Act) by Finance Act 2008 (c. 9), Sch. 1 para. 62(2)(a)
F4Words in s. 680A(1) omitted (with effect in accordance with Sch. 1 para. 65 of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 1 para. 62(2)(b)
F5S. 680A(2) omitted (with effect in accordance with Sch. 1 para. 65 of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 1 para. 62(3)
F6Words in s. 680A(3) substituted (with effect in accordance with Sch. 1 para. 65 of the amending Act) by Finance Act 2008 (c. 9), Sch. 1 para. 62(4)
F7Words in s. 680A(4) substituted (with effect in accordance with Sch. 1 para. 65 of the amending Act) by Finance Act 2008 (c. 9), Sch. 1 para. 62(5)(a)
F8Words in s. 680A(4) omitted (with effect in accordance with Sch. 1 para. 65 of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 1 para. 62(5)(b)
F9S. 680A(5) omitted (with effect in accordance with Sch. 1 para. 65 of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 1 para. 62(6)
F10Words in s. 680A(6) substituted (with effect in accordance with Sch. 1 para. 65 of the amending Act) by Finance Act 2008 (c. 9), Sch. 1 para. 62(7)