Income Tax Act 2007
Sections and provisions with full text and the judgments that cite each one.
Section 965 — Overview of sections 966 to 970
Overview of sections 966 to 970 965 1 Sections 966 to 970 make provision for the payment of sums representing income tax to the Commissioners for Her Majesty's Revenue and Customs where certain…
Section 966 — Duty to deduct and account for sums representing income tax
Duty to deduct and account for sums representing income tax 966 1 This section applies if— a an entertainer, sportsman or sportswoman of a prescribed description (“a performer”) who is non-UK…
Section 967 — Calculation of sums representing income tax
Calculation of sums representing income tax 967 1 The sums representing income tax mentioned in section 966(3) and (4) are to be calculated in accordance with prescribed rules. 2 But the sums must…
Section 968 — Treatment of sums representing income tax
Treatment of sums representing income tax 968 1 This section applies if, in accordance with section 966(3) or (4), a person pays a sum to the Commissioners for Her Majesty's Revenue and Customs. 2…
Section 969 — Regulations
Regulations 969 1 The Treasury may by regulations— a make provision enabling the Commissioners for Her Majesty's Revenue and Customs to serve notices requiring persons who make payments or transfers…
Section 970 — Supplementary
Supplementary 970 1 For the purposes of the Tax Acts a payment to which section 966 applies is treated as if it were not reduced by the deduction of a sum representing income tax under that section.…
Section 971 — Income tax due in respect of income of non-resident landlords
Income tax due in respect of income of non-resident landlords 971 1 The Commissioners for Her Majesty's Revenue and Customs may by regulations make provision for— a the collection, from non-resident…
Section 972 — Regulations under section 971
Regulations under section 971 972 1 Regulations under section 971 may, in particular, include all or any of the following provisions— a provision for the amount of any income tax in respect of…
Section 973 — Income tax due in respect of distributions
Income tax due in respect of distributions 973 1 The Treasury may make regulations providing for the assessment, collection and recovery of income tax where— a a distribution to which subsection (2)…
Section 974 — Regulations under section 973
Regulations under section 973 974 1 Regulations under section 973 may, in particular— a require a company to deduct sums representing income tax at the property basic rate before payment of…
Section 975 — Statements about deduction of income tax
Statements about deduction of income tax 975 1 Subsection (2) applies if — a a person makes a payment from which a sum representing income tax must be deducted under any provision of Chapters 2 to 7…
Section 975A — Statements about certain payments of interest
Statements about certain payments of interest 975A 1 Subsection (2) applies if a person makes a payment of interest of which the whole or part is in the form of goods or services or a voucher. 2 The…
Section 976 — Arrangements for payments of interest less tax or at specified net rate
Arrangements for payments of interest less tax or at specified net rate 976 1 This section applies if— a provision is made for the payment of interest, and b the interest is payable without deduction…
Section 977 — 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…
Section 978 — Application to public departments
Application to public departments 978 1 This Part applies in relation to payments made by public offices and departments of the Crown except as mentioned in subsection (2). 2 This Part does not apply…
Section 979 — Designated international organisations: exceptions from duties to deduct
Designated international organisations: exceptions from duties to deduct 979 1 The Treasury may by order designate for the purposes of this section any international organisation of which the United…
Section 979A — FSCS payments representing interest
FSCS payments representing interest 979A 1 This section applies where a payment is made under the FSCS representing interest net of an amount equal to a sum representing income tax that would have…
Section 980 — Derivative contracts: exception from duties to deduct
Derivative contracts: exception from duties to deduct 980 1 Despite the provisions of this Part, a company is not required to deduct a sum representing income tax from a payment made under a…
Section 981 — Foreign currency securities etc: exception from duties to deduct
Foreign currency securities etc: exception from duties to deduct 981 Despite the provisions of this Part there is no duty to deduct a sum representing income tax from a payment of interest within…
Section 981A — Offshore receipts in respect of intangible property: exception from duties to deduct
Offshore receipts in respect of intangible property: exception from duties to deduct 981A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 982 — Income tax is calculated by reference to gross amounts
Income tax is calculated by reference to gross amounts 982 If any provision of this Part requires the deduction from a payment of a sum representing income tax at a specified rate, the rate is to be…
Section 983 — Meaning of “deposit”
Meaning of “deposit” 983 In this Chapter “ deposit ” means a sum of money paid on terms which mean that it will be repaid (with or without interest)— a on demand, or b at a time or in circumstances…
Section 984 — Meaning of “financial instrument”
Meaning of “financial instrument” 984 1 In this Part “ financial instrument ” includes— a any money, b any shares or securities, c an option, future or contract for differences if its underlying…
Section 985 — Meaning of “qualifying certificate of deposit”
Meaning of “qualifying certificate of deposit” 985 1 In this Part “ qualifying certificate of deposit ” means a certificate of deposit under which— a the amount payable is at least £50,000, exclusive…
Section 986 — Meaning of “qualifying uncertificated eligible debt security unit”
Meaning of “qualifying uncertificated eligible debt security unit” 986 1 In this Part “ qualifying uncertificated eligible debt security unit ” means an uncertificated eligible debt security unit…
Section 987 — Meaning of “quoted Eurobond”
Meaning of “quoted Eurobond” 987 1 In this Part “ quoted Eurobond ” means a security, including a share (in particular any permanent interest bearing share as defined in section 117 of TCGA 1992),…
Section 988 — Overview of Chapter
Overview of Chapter 988 1 This Chapter contains definitions which apply for the purposes of the Income Tax Acts, except where, in those Acts, the context otherwise requires. 2 To find a definition go…
Section 989 — The definitions
The definitions 989 The following definitions apply for the purposes of the Income Tax Acts— “ Act ” has the meaning given by section 990, “ additional rate ” means the rate of income tax determined…
Section 990 — Meaning of “Act”
Meaning of “Act” 990 1 In the Income Tax Acts “ Act ” includes Northern Ireland legislation. 2 This section does not apply for the purposes of— a this Act (see instead section 1018), or b ITTOIA 2005…
Section 991 — Meaning of “bank”
Meaning of “bank” 991 1 This section has effect for the purposes of the provisions of the Income Tax Acts which apply this section. 2 “ Bank ” means— a the Bank of England, b a person who has…
Section 992 — Meaning of “company”
Meaning of “company” 992 1 In the Income Tax Acts “ company ” means any body corporate or unincorporated association, but does not include a partnership, a local authority or a local authority…
Section 993 — Meaning of “connected” persons
Meaning of “connected” persons 993 1 This section has effect for the purposes of the provisions of the Income Tax Acts which apply this section. 2 An individual (“A”) is connected with another…
Section 994 — Meaning of “connected” persons: supplementary
Meaning of “connected” persons: supplementary 994 1 In section 993 and this section— “ company ” includes any body corporate or unincorporated association, but does not include a partnership (and see…
Section 995 — Meaning of “control”
Meaning of “control” 995 1 This section has effect for the purposes of the provisions of the Income Tax Acts which apply this section. 2 In relation to a body corporate (“company A”), “ control ”…
Section 996 — Meaning of “farming” and related expressions
Meaning of “farming” and related expressions 996 1 In the Income Tax Acts “ farming ” means the occupation of land wholly or mainly for the purposes of husbandry, but does not include market…
Section 997 — Meaning of “generally accepted accounting practice” and related expressions
Meaning of “generally accepted accounting practice” and related expressions 997 1 In the Income Tax Acts “ generally accepted accounting practice ” means UK generally accepted accounting practice.…
Section 998 — Meaning of “grossing up”
Meaning of “grossing up” 998 1 In the Income Tax Acts references to grossing up by reference to a rate of tax are to calculating the amount (“the grossed up amount”) which after deduction of income…
Section 998A — Meaning of “hire-purchase agreement”
Meaning of “hire-purchase agreement” 998A 1 This section applies for the purposes of the provisions of the Income Tax Acts which apply this section. 2 A hire-purchase agreement is an agreement in…
Section 999 — Meaning of “local authority”
Meaning of “local authority” 999 1 In the Income Tax Acts “ local authority ”, in relation to England and Wales, means— a a billing authority as defined in section 1(2) of the Local Government…
Section 1000 — Meaning of “local authority association”
Meaning of “local authority association” 1000 1 In the Income Tax Acts “ local authority association ” means any incorporated or unincorporated association which meets conditions A and B. 2 Condition…
Section 1001 — Meaning of “offshore installation”
Meaning of “offshore installation” 1001 1 In the Income Tax Acts “ offshore installation ” means a structure which is, is to be, or has been, put to a relevant use while in water (see subsections (3)…
Section 1002 — Regulations about the meaning of “offshore installation”
Regulations about the meaning of “offshore installation” 1002 1 The Treasury may by regulations make provision as to the meaning of “offshore installation” in the Income Tax Acts. 2 The regulations…
Section 1003 — Meaning of “oil and gas exploration and appraisal”
Meaning of “oil and gas exploration and appraisal” 1003 1 In the Income Tax Acts “ oil and gas exploration and appraisal ” means activities carried out for the purpose of— a searching for petroleum…
Section 1004 — Meaning of “property investment LLP”
Meaning of “property investment LLP” 1004 1 In the Income Tax Acts “ property investment LLP ” means a limited liability partnership— a whose business consists wholly or mainly in the making of…
Section 1005 — Meaning of “recognised stock exchange”etc
Meaning of “recognised stock exchange”etc 1005 1 In the Income Tax Acts “ recognised stock exchange ” means— a any market of a recognised investment exchange which is for the time being designated as…
Section 1006 — Meaning of “research and development”
Meaning of “research and development” 1006 1 This section has effect for the purposes of the provisions of the Income Tax Acts which apply this section. 2 “ Research and development ” means…
Section 1007 — Meaning of “unit trust scheme”
Meaning of “unit trust scheme” 1007 1 In the Income Tax Acts “ unit trust scheme ” has the meaning given by section 237 of FISMA 2000. This is subject to subsection (2). 2 The Treasury may, in…
Section 1007A — Meaning of “permanent establishment”
Meaning of “permanent establishment” 1007A 1 In the Income Tax Acts “ permanent establishment ”, in relation to a company, is to be read in accordance with Chapter 2 of Part 24 of CTA 2010. 2 This…
Section 1008 — Scotland
Scotland 1008 1 In the application of the Income Tax Acts to Scotland— “ assignment ” means an assignation, “ estate in land ” includes the land, and “ surrender ” includes renunciation. 2 In the…
Section 1009 — Sources of income within the charge to income tax or corporation tax
Sources of income within the charge to income tax or corporation tax 1009 In the Income Tax Acts a source of income is within the charge to income tax or corporation tax if that tax— a is chargeable…