Section 684 | Income charged

(1)Tax is charged under this Chapter on the full amount of the annual payments arising in the tax year.

(2)Subsection (1) is subject to Part 8 (foreign income: special rules).

(3)The amount charged under this Chapter in the case of certain payments made by trustees in the exercise of a discretion is subject to section 494 of ITA 2007(grossing up of discretionary payments from trusts).