Section 930 | Exception from duties to deduct sums representing income tax

(1)The duties to deduct sums representing income tax mentioned in subsection (2) do not apply to a payment if—

(a)it is made by a company, local authority or qualifying partnership, and

(b)at the time the payment is made, the company, authority or partnership reasonably believes that it is an excepted payment.

(2)The duties to deduct are those under—

(a)section 874(2) (certain payments of yearly interest),

(b)section 889(4) (payments in respect of building society securities),

(c)section 901(4) (annual payments made by persons other than individuals),

(d)section 903(7) (patent royalties),

(e)section 906(5) (certain royalty payments etc where the owner lives abroad),

(f)section 910(2) (proceeds of a sale of patent rights paid to non-UK residents),

(g)section 919(2) (manufactured interest on UK securities: payments by UK residents etc), and

(h)section 928(2) (chargeable payments connected with exempt distributions).

(3)Subsection (1) has effect subject to any directions under section 931.

(4)Subsection (1) does not apply to a payment made by a company, or qualifying partnership, acting as trustee or agent for another person.