# Income Tax Act 2007, Section 980: Derivative contracts: exception from duties to deduct

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

(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 Part 7 of CTA 2009 .

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Source: https://www.legislation.gov.uk/ukpga/2007/3/section/980 (the official version)
Page: https://openlegislation.uk/income-tax-act-2007/section-980
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.