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.