Part 2Basic provisions

Chapter 2Rates at which income tax is charged

Income charged at particular rates

19Meaning of “dividend income”

1

This section applies for the purposes of the Income Tax Acts.

2

“Dividend income” is income which is—

a

chargeable under Chapter 3 of Part 4 of ITTOIA 2005 (dividends etc from UK resident companies),

b

chargeable under Chapter 4 of that Part (dividends from non-UK resident companies),

c

chargeable under Chapter 5 of that Part (stock dividends from UK resident companies),

d

chargeable under Chapter 6 of that Part (release of loan to participator in close company), or

e

a relevant foreign distribution chargeable under Chapter 8 of Part 5 of ITTOIA 2005 (income not otherwise charged).

3

In subsection (2) “relevant foreign distribution” means a distribution of a non-UK resident company which—

a

is not chargeable under Chapter 4 of Part 4 of ITTOIA 2005, but

b

would be chargeable under Chapter 3 of that Part if the company were UK resident.