{
  "url": "https://openlegislation.uk/income-tax-paying-and-collecting-agents-amendment-regulations-1997/regulation-6",
  "json_url": "https://openlegislation.uk/income-tax-paying-and-collecting-agents-amendment-regulations-1997/regulation-6.json",
  "legislation": "uksi/1997/2705",
  "legislation_title": "The Income Tax (Paying and Collecting Agents) (Amendment) Regulations 1997",
  "legislation_url": "https://openlegislation.uk/income-tax-paying-and-collecting-agents-amendment-regulations-1997",
  "path": "regulation/6",
  "kind": "regulation",
  "number": "6",
  "heading": "Amendments to the principal Regulations",
  "text": "After regulation 2 there shall be inserted—\n“Non-chargeability of relevant payments or relevant receipts: excluded payments and receipts\nSuperannuation funds within section 615(6)\n2A (1) Relevant payments and relevant receipts which constitute income derived from investments, deposits or other property of a superannuation fund are relevant payments and relevant receipts of a description which is prescribed for the purposes of section 118G(4)(i).\n(2) In paragraph (1) the reference to a superannuation fund is a reference to a superannuation fund which either—\n(a) falls within subsection (6) of section 615, or\n(b) is before the Board in order for them to decide whether the superannuation fund falls within that subsection.\nPersonal equity plans\n2B (1) Relevant payments and relevant receipts which constitute income derived from investments held under a plan set up by a plan manager are relevant payments and relevant receipts of a description which is prescribed for the purposes of section 118G(4)(i).\n(2) In paragraph (1) “plan” and “plan manager” shall be construed in accordance with section 333 and the Personal Equity Plan Regulations 1989.\nPension funds pooling schemes\n2C (1) Relevant payments and relevant receipts which constitute income derived from investments of a pension funds pooling scheme are relevant payments and relevant receipts of a description which is prescribed for the purposes of section 118G(4)(i).\n(2) In paragraph (1) “pension funds pooling scheme” has the meaning given by regulation 2(1) of the Income Tax (Pension Funds Pooling Schemes) Regulations 1996.\nCommon investment funds\n2D (1) Relevant payments and relevant receipts which constitute income derived from investments of a common investment fund, being income falling within section 328(1)(a), are relevant payments and relevant receipts of a description which is prescribed for the purposes of section 118G(4)(i).\n(2) In paragraph (1) “common investment fund” means a common investment fund established under section 42 of the Administration of Justice Act 1982 which is for the time being designated under section 328(1).\nDiplomatic and consular immunity\n2E (1) Relevant payments and relevant receipts to which, at the chargeable date, a person is beneficially entitled who—\n(a) beneficially owns at that date the relevant holdings from which those payments and receipts are derived, and\n(b) by virtue of any of the enactments specified in paragraph (3), is entitled at that date to exemption or immunity from income tax in respect of income having its source outside the United Kingdom,\nare relevant payments and relevant receipts of a description which is prescribed for the purposes of section 118G(4)(i).\n(2) A relevant receipt consisting of a manufactured overseas dividend to which, at the chargeable date, a person is beneficially entitled who, by virtue of any of the enactments specified in paragraph (3), is entitled at that date to exemption or immunity from income tax in respect of income having its source outside the United Kingdom, is a relevant receipt of a description which is prescribed for the purposes of section 118G(4)(i).\n(3) The enactments specified are—\n(a) the Diplomatic Privileges Act 1964;\n(b) the Consular Relations Act 1968;\n(c) the Commonwealth Countries and Republic of Ireland (Immunities and Privileges) Order 1985;\n(d) section 320;\n(e) section 322.\nCompanies in the same group\n2F (1) A relevant receipt in relation to which a company is a collecting agent for another company in the circumstances specified in paragraph (2) is a relevant receipt of a description which is prescribed for the purposes of section 118G(4)(i).\n(2) The circumstances specified are where—\n(a) both companies belong to the same group of companies, and\n(b) a company belonging to the same group of companies—\n(i) where the relevant receipt is a manufactured overseas dividend, is beneficially entitled to that relevant receipt, or\n(ii) in any other case is both the beneficial owner of the relevant holdings from which the relevant receipt derives and is beneficially entitled to that relevant receipt.\n(3) In paragraph (2) “group” means a company which has one or more 51 per cent. subsidiary companies together with that or those subsidiaries.\n(4) In paragraph (3) “51 per cent. subsidiary” shall be construed in accordance with section 838(1)(a).\nLocal authorities and health service bodies\n2G (1) The persons specified in paragraph (2), being persons exempt from income tax and corporation tax under section 519 or 519A, are persons who are prescribed for the purposes of section 118G(4)(g).\n(2) The persons specified are—\n(a) a local authority in the United Kingdom;\n(b) a local authority association within the meaning given by section 519(3);\n(c) a health service body within the meaning given by section 519A(2).\nManufactured overseas dividends—local authorities and health service bodies\n2H A relevant receipt consisting of a manufactured overseas dividend to which, at the chargeable date, any of the persons specified in regulation 2G(2) is beneficially entitled, is a relevant receipt of a description which is prescribed for the purposes of section 118G(4)(i).\nManufactured overseas dividends—non-resident recipients\n2J A relevant receipt consisting of a manufactured overseas dividend to which, at the chargeable date, a person who is not resident in the United Kingdom is beneficially entitled, is a relevant receipt of a description which is prescribed for the purposes of section 118G(4)(i).\nManufactured overseas dividends—banks resident in the United Kingdom\n2K A relevant receipt consisting of a manufactured overseas dividend which is representative of a foreign dividend in the form of interest and to which, at the chargeable date, a bank which is resident in the United Kingdom is beneficially entitled, is a relevant receipt of a description which is prescribed for the purposes of section 118G(4)(i).\nManufactured overseas dividends—qualifying discretionary or accumulation trusts\n2L A relevant receipt consisting of a manufactured overseas dividend which arises to the trustees of a qualifying discretionary or accumulation trust in their capacity as such is a relevant receipt of a description which is prescribed for the purposes of section 118G(4)(i).\nManufactured overseas dividends paid directly or indirectly to a recognised clearing system\n2M (1) A relevant receipt consisting of a manufactured overseas dividend which is paid or accounted for by a collecting agent directly to a recognised clearing system is a relevant receipt of a description which is prescribed for the purposes of section 118G(4)(i).\n(2) Subject to regulation 3A, a relevant receipt consisting of a manufactured overseas dividend which is paid or accounted for by a collecting agent to, or at the direction of, a depositary for a recognised clearing system is a relevant receipt of a description which is prescribed for the purposes of section 118G(4)(i).\nRelevant receipts corresponding to manufactured overseas dividends\n2N (1) A relevant receipt in relation to which a person is a collecting agent on behalf of an overseas dividend manufacturer in the circumstances specified in paragraph (2) is, to the extent specified in paragraph (3), a relevant receipt of a description which is prescribed for the purposes of section 118G(4)(i).\n(2) The circumstances specified in this paragraph are where the relevant receipt—\n(a) is in respect of a relevant holding to which a manufactured overseas dividend paid by the overseas dividend manufacturer or by the collecting agent on behalf of the overseas dividend manufacturer relates, and\n(b) is in respect of the same dividend date as that manufactured overseas dividend.\n(3) The extent specified in this paragraph is so much of the amount of the relevant receipt as is in respect of the relevant holding to which the manufactured overseas dividend relates.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Section 333 was amended by section 70 of the Finance Act 1991."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "S.I. 1989/469, amended by S.I. 1990/678, 1991/733 and 2774, 1992/623, 1993/756, 1995/1539 and 3287, 1996/846 and 1355 and 1997/511 and 1716."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "S.I. 1996/1585."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "1982 c. 53."
    },
    {
      "type": "footnote",
      "label": "f5",
      "text": "1964 c. 81."
    },
    {
      "type": "footnote",
      "label": "f6",
      "text": "1968 c. 18."
    },
    {
      "type": "footnote",
      "label": "f7",
      "text": "S.I. 1985/1983."
    },
    {
      "type": "footnote",
      "label": "f8",
      "text": "Section 322 was amended by paragraph 4(1) of Schedule 14 to the Finance Act 1990 (c. 29) and by paragraph 15 of Schedule 7, and Part V(2) of Schedule 41, to the Finance Act 1996."
    },
    {
      "type": "footnote",
      "label": "f9",
      "text": "Section 519 was amended by paragraph 5(2) of Schedule 18, and Part IV of Schedule 19, to the Finance Act 1990."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1997/2705/regulation/6",
    "retrieved_at": "2026-10-29T11:42:56.539715+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}