StatuteIncome Tax Act 2007

Section 825 — Income Tax Act 2007: Meaning of “disregarded savings and investment income”

Text of the provision Official document

Meaning of “disregarded savings and investment income” 825 1 For the purposes of this Chapter income is “disregarded savings and investment income” if—

a it is chargeable under Chapter 3 or 5 of Part 4 of ITTOIA 2005 (dividends etc from UK resident companies and stock dividends from UK resident companies), or b it is within subsection (2) and is not relevant foreign income.

2 Income is within this subsection if it is chargeable under—

a Chapter 2 of Part 4 of ITTOIA 2005 (interest),

b Chapter 7 of that Part (purchased life annuity payments),

c Chapter 8 of that Part (profits from deeply discounted securities),

d . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . e Chapter 11 of that Part (transactions in deposits) , or f regulation 15 of the Unauthorised Unit Trusts (Tax) Regulations 2013.

Official source: legislation.gov.uk

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