Section 19 — Income Tax Act 2007: Meaning of “dividend income”

Meaning of “dividend income” 19 1 This section applies for the purposes of the Income Tax Acts. 2 “Dividend income” is income which is—

a chargeable under Chapter 3 of Part 4 of ITTOIA 2005 (dividends etc from UK resident companies),

b chargeable under Chapter 4 of that Part (dividends from non-UK resident companies),

c chargeable under Chapter 5 of that Part (stock dividends from UK resident companies),

d chargeable under Chapter 6 of that Part (release of loan to participator in close company), or e a relevant foreign distribution chargeable under Chapter 8 of Part 5 of ITTOIA 2005 (income not otherwise charged).

3 In subsection (2) “ relevant foreign distribution ” means a distribution of a non-UK resident company which—

a is not chargeable under Chapter 4 of Part 4 of ITTOIA 2005, but b would be chargeable under Chapter 3 of that Part if the company were UK resident.