# Income Tax Act 2007, Section 893: Payments of UK public revenue dividends which are payable gross

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

(1) A payment of a UK public revenue dividend is payable gross if—
(a) it is a payment of interest on gross-paying government securities, and
(b) no deduction at source application has effect in respect of the securities at the time the payment is made (see section 895).
(2) In this Chapter “gross-paying government securities” means—
(a) gilt-edged securities (see section 1024),
(aa) securities, so far as they are not gilt-edged securities, issued or treated as issued under—
(i) the National Loans Act 1939, or
(ii) the National Loans Act 1968, or
(b) securities which are the subject of a Treasury direction under section 894(3).

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Source: https://www.legislation.gov.uk/ukpga/2007/3/section/893 (the official version)
Page: https://openlegislation.uk/income-tax-act-2007/section-893
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.