589Meaning of “gross amount”: interest and manufactured overseas dividendsU.K.
This section has no associated Explanatory Notes
(1)This section applies for the purposes of this Chapter.
(2)The gross amount of any interest or payment is the amount of the interest or payment before the making of any deduction of income tax that is required to be deducted from it on its being paid or made.
(3)The gross amount of a manufactured overseas dividend is an amount equal to the gross amount of the overseas dividend of which the manufactured overseas dividend is representative.
(4)The gross amount of an overseas dividend is the sum of—
(a)so much of the overseas dividend as remains after the deduction of any overseas tax chargeable on it,
(b)the amount of any overseas tax so deducted, and
(c)the amount of any overseas tax credit in respect of the overseas dividend.