# Income and Corporation Taxes Act 1988, Paragraph 6A

Extent: E+W+S+N.I.

(1) On the fourteenth day following the month in which a transaction such as is mentioned in paragraph 6 above is effected, income tax (at the lower rate in force at the time of payment) shall become due in respect of the relevant dividends or proceeds.
(2) The tax shall be payable by the chargeable person on behalf of the persons entitled to the dividends or proceeds.
(2A) Payments of tax made on any person’s behalf under this paragraph shall be treated as made for the purpose only of being applied in the discharge of that person’s liability to tax charged (otherwise than by virtue of this paragraph) on the dividends or proceeds to which the payments relate.
(3) The tax shall be payable without the making of any assessment.
(4) For the purposes of sub-paragraph (1) above the applicable rate shall be—
(a) the lower rate, in the case of a foreign dividend which is neither interest nor any other annual payment which is made otherwise than by way of dividend; and
(b) the basic rate in any other case.

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Source: https://www.legislation.gov.uk/ukpga/1988/1/schedule/3/paragraph/6A (the official version)
Page: https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-3/paragraph-6A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.