Income Tax Act 2007 (c. 3)

Part 15 U.K. Deduction of income tax at source

Modifications etc. (not altering text)

C1 Pt. 15 modified (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), ss. 551(4), 1329(1) (with Pts. 1, 2, Sch. 2 para. 78)

Chapter 19 U.K. General

Supplementary U.K.

980 Derivative contracts: exception from duties to deduct U.K.

(1) Despite the provisions of this Part, a company is not required to deduct a sum representing income tax from a payment made under a derivative contract to which this section applies.

(2) This section applies to a derivative contract if profits and losses arising from it are calculated in accordance with [F1 Part 7 of CTA 2009] .

Textual Amendments

F1 Words in s. 980(2) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 718 (with Sch. 2 Pts. 1, 2)