Section 977 — Income Tax Act 2007: Payments to companies

Payments to companies 977 1 The provisions of this Part relating to the deduction from payments of sums representing income tax are not affected by the fact that the recipient is a company not chargeable to income tax on the payment.

2 References in subsection (1) to payments received by a company—

a include payments received by another person on behalf of or in trust for the company, but b do not include payments received by the company on behalf of or in trust for another person.

3 For further provision about payments received by companies, see—

a sections 7(2) and 11(3) of ICTA (set-off of income tax deducted at source against liability to corporation tax),

and b section 952 (set-off of income tax suffered against income tax payable under Chapter 15).