Income Tax Act 2007
Sections and provisions with full text and the judgments that cite each one.
Section 925A — Creditor repos
Creditor repos 925A 1 Subsection (2) applies if a company (“ the lender ”) has a creditor repo for the purposes of Chapter 10 of Part 6 of CTA 2009 (see section 543 of that Act). 2 Sections 918 , 919…
Section 925B — Debtor repos
Debtor repos 925B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 925C — Actual payments ignored if section 925A ... applies
Actual payments ignored if section 925A ... applies 925C If section 925A(2) ... applies, any payment actually made under an arrangement which is representative of any income payable on any securities…
Section 925D — Power to modify repo sections
Power to modify repo sections 925D 1 The Treasury may by regulations provide for all or any of the provisions of sections 925A to 925F to apply with modifications in relation to— a cases to which…
Section 925E — Cases where section 925D applies: non-standard repos
Cases where section 925D applies: non-standard repos 925E 1 This section applies to a case if— a a company has a repo, b there has been a sale of the securities under the arrangement or arrangements…
Section 925F — Interpretation of the repo sections
Interpretation of the repo sections 925F 1 This section applies for the purposes of sections 925A to 925E and this section. 2 “ Arrangement ” includes any agreement or understanding (whether or not…
Section 926 — Interpretation of Chapter
Interpretation of Chapter 926 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 References in this Chapter to a…
Section 927 — Regulation-making powers: general
Regulation-making powers: general 927 Regulations under this Chapter may make different provision for different cases.
Section 928 — Chargeable payments connected with exempt distributions
Chargeable payments connected with exempt distributions 928 1 This section applies to any payment chargeable to tax under section 1086 of CTA 2010 (chargeable payments made within 5 years of an…
Section 929 — Overview of Chapter
Overview of Chapter 929 1 This Chapter makes provision allowing some payments made by companies, local authorities and qualifying partnerships to be paid gross where they would otherwise be subject…
Section 930 — Exception from duties to deduct sums representing income tax
Exception from duties to deduct sums representing income tax 930 1 The duties to deduct sums representing income tax mentioned in subsection (2) do not apply to a payment if— a it is made by a…
Section 931 — Power to make directions disapplying section 930
Power to make directions disapplying section 930 931 1 An officer of Revenue and Customs may give a direction to a company, local authority or qualifying partnership directing that section 930 is not…
Section 932 — Meaning of “qualifying partnership”
Meaning of “qualifying partnership” 932 For the purposes of this Chapter a partnership is a “qualifying partnership” if any partner in the partnership is a company or a local authority.
Section 933 — UK resident companies
UK resident companies 933 A payment is an excepted payment if the person beneficially entitled to the income in respect of which the payment is made is a UK resident company.
Section 934 — Non-UK resident companies
Non-UK resident companies 934 1 A payment is an excepted payment if each of the following conditions is met in relation to the payment. 2 The person beneficially entitled to the income in respect of…
Section 935 — PEP and ISA managers
PEP and ISA managers 935 1 A payment is an excepted payment if each of the following conditions is met in relation to the payment. 2 The person to whom the payment is made must be, or must be the…
Section 936 — Recipients who are to be paid gross
Recipients who are to be paid gross 936 1 A payment is an excepted payment if it is made to, or to the nominee of, a recipient who is specified in subsection (2) as a recipient who is to be paid…
Section 937 — Partnerships
Partnerships 937 1 A payment is an excepted payment if each of the following conditions are met. 2 A partnership must be beneficially entitled to the income in respect of which the payment is made. 3…
Section 938 — Consequences of reasonable but incorrect belief
Consequences of reasonable but incorrect belief 938 1 This section applies if— a a payment is made by a company, local authority or qualifying partnership without a sum representing income tax on the…
Section 939 — Duty to retain bonds where issue treated as payment of interest
Duty to retain bonds where issue treated as payment of interest 939 1 This section applies if— a there is an issue of funding bonds to a creditor in respect of a liability to pay interest on a debt…
Section 940 — Exception from duty to retain bonds
Exception from duty to retain bonds 940 1 This section applies if an issue of funding bonds is treated as a payment of interest (“the deemed interest”) as mentioned in section 939(1) and— a the…
Section 940A — No appropriate bond or combination of bonds
No appropriate bond or combination of bonds 940A 1 This section applies if— a the Commissioners for Her Majesty's Revenue and Customs hold one or more bonds tendered in accordance with section…
Section 941 — Deemed payments to unit holders and deemed deductions of income tax
Deemed payments to unit holders and deemed deductions of income tax 941 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 942 — Income tax to be collected from trustees
Income tax to be collected from trustees 942 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 943 — Calculation of trustees' income pool
Calculation of trustees' income pool 943 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 943B — The “foreign element” of a deemed deduction or deemed income
The “foreign element” of a deemed deduction or deemed income 943B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 943C — Calculation of trustees' double tax relief pool
Calculation of trustees' double tax relief pool 943C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 943D — Annual statements
Annual statements 943D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 944 — Directions for deduction from payments to non-UK residents
Directions for deduction from payments to non-UK residents 944 1 This section applies if it appears to an officer of Revenue and Customs that any person entitled to an amount taxable under— a . . . .…
Section 945 — Overview of Chapter
Overview of Chapter 945 1 This Chapter provides— a for persons who have made payments within section 946 (“section 946 payments”) to make returns of the payments, and b for the collection of income…
Section 946 — Payments within this section
Payments within this section 946 The payments within this section are— a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b a payment from which a UK resident company is required to…
Section 947 — Return periods
Return periods 947 1 For the purposes of this Chapter, the return periods which fall within a person's accounting period are determined as follows. 2 If at least one quarter date falls within the…
Section 948 — Meaning of “accounting period”
Meaning of “accounting period” 948 1 In this Chapter “ accounting period ”, in relation to a deposit-taker who is not a company, means a period for which the deposit-taker's accounts are drawn up. “…
Section 949 — Payments in an accounting period
Payments in an accounting period 949 1 This section applies if a person makes a section 946 payment on a date which falls within an accounting period of the person. 2 The person must deliver a return…
Section 950 — Payments otherwise than in an accounting period
Payments otherwise than in an accounting period 950 1 This section applies if a person makes a section 946 payment on a date which does not fall within an accounting period of the person. 2 The…
Section 951 — Collection and payment of income tax
Collection and payment of income tax 951 1 Income tax in respect of a section 946 payment is due, from the person who makes the payment, on the date by which the return on which the payment must be…
Section 952 — Conditions for a set-off claim
Conditions for a set-off claim 952 1 A person who makes a section 946 payment may make a set-off claim if conditions A and B are met at the end of a return period which falls within an accounting…
Section 953 — How a set-off claim works
How a set-off claim works 953 1 A set-off claim is a claim for the net amount of income tax suffered at the end of the return period to be set off against the net amount of income tax payable at the…
Section 954 — Proceedings begun after a set-off claim is made
Proceedings begun after a set-off claim is made 954 1 If a set-off claim has been made no proceedings for collecting income tax which would have to be discharged if the claim were allowed may be…
Section 955 — Proceedings begun before a set-off claim is made
Proceedings begun before a set-off claim is made 955 1 This section applies if— a a person has made a set-off claim, and b before the claim was made, proceedings were brought for collecting income…
Section 956 — Assessments where section 946 payment included in return
Assessments where section 946 payment included in return 956 1 This section applies if any income tax in respect of a section 946 payment which is included in a return under this Chapter has not been…
Section 957 — Assessments in other cases
Assessments in other cases 957 1 This section applies if an officer of Revenue and Customs thinks— a that there is a section 946 payment which should have been included in a return under this Chapter…
Section 958 — Payer's duty to deliver amended return
Payer's duty to deliver amended return 958 1 This section applies if a person who has made a section 946 payment becomes aware that— a anything which should have been included in a return delivered…
Section 959 — Application of Income Tax Acts provisions about time limits for assessments
Application of Income Tax Acts provisions about time limits for assessments 959 1 This section deals with the application of the provisions of the Income Tax Acts about time limits for making…
Section 960 — Further provisions about assessments
Further provisions about assessments 960 1 Income tax assessed on a person under this Chapter is due on the date mentioned in section 951 and an appeal against the assessment does not affect the date…
Section 961 — Relationship between Chapter and Income Tax Acts powers
Relationship between Chapter and Income Tax Acts powers 961 Nothing in this Chapter affects any powers conferred by the Income Tax Acts for the recovery of income tax by means of an assessment or…
Section 962 — Power to make regulations modifying Chapter
Power to make regulations modifying Chapter 962 1 The Commissioners for Her Majesty's Revenue and Customs may by regulations modify, replace or supplement any of the provisions of this Chapter for…
Section 963 — Collection of income tax on certain payments by other persons
Collection of income tax on certain payments by other persons 963 1 This section makes provision for the collection of income tax in respect of— a a payment from which a person other than a UK…
Section 963A — Power to make regulations modifying section 963
Power to make regulations modifying section 963 963A 1 The Commissioners for Her Majesty's Revenue and Customs may by regulations modify, replace or supplement any provision of section 963(2) to (4).…
Section 964 — Collection through self-assessment return
Collection through self-assessment return 964 1 This section applies if— a a person makes a payment from which the person is required to deduct a sum representing income tax, and b income tax equal…