187. Deduction of tax from qualifying annual payments.

A 'qualifying annual payment' is a payment which arises in the United Kingdom1 and which meets the following requirements:

  1.  

    (1)     if the recipient is a person other than a company2, the payment must be:

    1.  

      (a)     a purchased life annuity payment3;

    2.  

      (b)     a royalty or other payment for intellectual property4;

    3.  

      (c)     a payment for certain telecommunication rights5; or

    4.  

      (d)     an annual payment not otherwise charged to tax6; or

    5.  

      (e)     an employment-related annuity7;

  2.  

    (2)     if the recipient is a company, the payment must be:

    1.  

      (a)     a payment charged to income tax as mentioned in head (1)(a);

    2.  

      (b)     a payment required to