Commentary

A4.459 Non-commercial payments by companies

Administration and compliance

A4.459 Non-commercial payments by companies

Non-commercial payments by companies

A4.459 Non-commercial payments by companies

On making a chargeable payment within five years of an exempt distribution, the person by or through whom the payment1 is made must, on making the payment, deduct a sum representing income tax at the basic rate in force for the year of payment2.

If the payment is made by a UK-resident company, income tax equal to the sum deducted is collected under ITA 2007, ss 945–962 (Pt 15, Ch 15). Otherwise, it is collected under Chapter 16 of that Part (see A4.465).

Such a payment may,

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