Section 19 | Meaning of “dividend income”

(1)This section applies for the purposes of the Income Tax Acts.

(2)“Dividend income” is income which is—

(a)chargeable under Chapter 3 of Part 4 of ITTOIA 2005 (dividends etc from UK resident companies),

(b)chargeable under Chapter 4 of that Part (dividends from non-UK resident companies),

(c)chargeable under Chapter 5 of that Part (stock dividends from UK resident companies),

(d)chargeable under Chapter 6 of that Part (release of loan to participator in close company), or

(e)a relevant foreign distribution chargeable under Chapter 8 of Part 5 of ITTOIA 2005 (income not otherwise charged).

(3)In subsection (2) “relevant foreign distribution” means a distribution of a non-UK resident company which—

(a)is not chargeable under Chapter 4 of Part 4 of ITTOIA 2005, but

(b)would be chargeable under Chapter 3 of that Part if the company were UK resident.