Income Tax Act 2007

603 Deemed deductions of tax

(1) This section applies if—

(a) an amount is treated as paid under section 602(1)(b) (deemed manufactured payments), and

(b) as a result, one of these sections applies—

(i) section 918 (deduction of income tax at source: manufactured dividends on UK shares: Real Estate Investment Trusts),

(ii) section 919 (deduction of income tax at source: manufactured interest on UK securities),

(iii) section 922 (deduction of income tax at source: manufactured overseas dividends).

(2) So far as the deemed payment is representative of a dividend on UK shares—

(a) paid by a company to which Part 4 of FA 2006 applies in respect of profits of C (tax-exempt), or

(b) paid by a group to which that Part applies in respect of profits of G (property rental business),

any deduction which (as a result of section 918) is required to be made out of the gross amount of the payment is treated as made.

(3) If the deemed payment is representative of a periodical payment of interest on UK securities, any deduction which (as a result of section 919) is required to be made out of the gross amount of the payment is treated as made.

(4) If the deemed payment is representative of an overseas dividend on overseas securities, any deduction which (as a result of section 922) is required to be made out of the gross amount of the payment is treated as made.