Section 367 | Priority between Chapters within Part 4

(1)Any income, so far as it falls within Chapter 2 (interest) and Chapter 8 (profits from deeply discounted securities), is dealt with under Chapter 8.

(2)Any income, so far as it falls within Chapter 3 (dividends etc. from UK resident companies etc.) and another Chapter, is dealt with under Chapter 3 (but this is subject to subsection (3)).

(3)Any income, so far as it falls within—

(a)Chapter 2 (interest) as a result of section 372 (building society dividends) , 378A (offshore fund distributions) or 379 ( payments by registered societies or certain co-operatives ), and

(b)Chapter 3 or Chapter 4 (or both),

is dealt with under Chapter 2.