Section 686 Payments received after deduction of tax

United Kingdom

(1)

F1In accordance with section 848 of ITA 2007, a sum representing income tax deducted under Chapter 6 of Part 15 of that Act from an annual payment within this Chapter is treated as income tax paid by the recipient F2. . .

(2)

See also F3section 494(3) of ITA 2007(sum treated as deducted from payments made under a discretionary trust treated as income tax paid by the person to whom the payment is made or the settlor).

Annotations

Textual amendments

F1: Words in s. 686(1) substituted (6.4.2007 with effect as stated in s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), ss. 1027, 1034, Sch. 1 para. 570(2)(a) (with transitional provisions and savings in Sch. 2)
F2: Words in s. 686(1) repealed (6.4.2007 with effect as stated in s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), ss. 1027, 1031, 1034, Sch. 1 para. 570(2)(b), Sch. 3 Pt. 1, (with transitional provisions and savings in Sch. 2)
F3: Words in s. 686(2) substituted (6.4.2007 with effect as stated in s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), ss. 1027, 1031, Sch. 1 para. 570(3) (with transitional provisions and savings in Sch. 2)