Section 19 Meaning 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.