Section 365 Overview of Part 4C1

United Kingdom

(1)

This Part imposes charges to income tax under—

(a)

Chapter 2 (interest),

F1(aa)

Chapter 2A (disguised interest),

(b)

Chapter 3 (dividends etc. from UK resident companies etc.),

(c)

Chapter 4 (dividends from non-UK resident companies),

(d)

Chapter 5 (stock dividends from UK resident companies),

(e)

Chapter 6 (release of loan to participator in close company),

(f)

Chapter 7 (purchased life annuity payments),

(g)

Chapter 8 (profits from deeply discounted securities),

(h)

Chapter 9 (gains from contracts for life insurance etc.),

F2(i)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(j)

Chapter 11 (transactions in deposits),

F3(k)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(l)

Chapter 13 (sales of foreign dividend coupons).

(2)

Part 6 deals with exemptions from the charges under this Part.

(3)

See, in particular, any exemptions mentioned in the particular Chapters.

(4)

The charges under this Part apply to non-UK residents as well as UK residents but this is subject to section 368(2) (charges on non-UK residents only on UK source income).

(5)

This section needs to be read with the relevant priority rules (see sections 2 and 366).

Annotations

Textual amendments

F1: S. 365(1)(aa) inserted (with effect in accordance with Sch. 12 para. 18(1) of the amending Act) by Finance Act 2013 (c. 29), Sch. 12 para. 2(a)
F2: S. 365(1)(i) omitted (6.4.2014) by virtue of The Unauthorised Unit Trusts (Tax) Regulations 2013 (S.I. 2013/2819), regs. 1(3), 36(2) (with reg. 32)
F3: S. 365(1)(k) omitted (with effect in accordance with Sch. 12 para. 18(1) of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 12 para. 2(b)

Modifications

C1: Ss. 353-368 modified (7.4.2005) by Finance Act 2005 (c. 7), s. 51(2)