Commentary

A4.432 Meaning of 'qualifying annual payment'

Administration and compliance

A4.432 Meaning of 'qualifying annual payment'

A4.432 Meaning of 'qualifying annual payment'

A sum representing income tax at the basic rate must be deducted from a 'qualifying annual payment' at the time it is made1. A qualifying annual payment must meet the following criteria2:

  1.  

    (i)     it must arise in the United Kingdom3;

  2.  

    (ii)     if the recipient is a person other than a company, the payment must be one charged to income tax under ITTOIA 2005, s 579, ITTOIA 2005, ss 422–426 (Pt 4, Ch 7), ITTOIA 2005, ss 614–618 (Pt 5, Ch 4) and ITTOIA 2005, ss 683–686 (Pt 5, Ch 7), or charged to income

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