Examples of ITTOIA 2005 in a sentence
Any payments that are regular or paid in a lump sum to the student by their parent(s) and which have been determined in a court of law under Schedule 1 of the Children’s Act 1989, are generally exempt from tax under Section 744(1)(i) of ITTOIA 2005.
Dividends and other income distributions paid or deemed to be paid to UK resident individual shareholders in respect of Shares in the Fund which are deemed to be ‘bond funds’ may be taxed as ‘interest’ as opposed to ‘dividends’ under Chapter 2 of Part 4 of the Income Tax (Trading and Other Income) Act 2005 (ITTOIA 2005) and the Dividend Allowance would not be relevant.
Under these rules, dividends and other income distributions paid or deemed to be paid to UK resident and domiciled individual Shareholders in respect of Shares in the Company which are deemed to be 'bond funds' may instead be taxed as 'interest' (as opposed to 'dividends'), under Chapter 2 of Part 4 of the Income Tax (Trading and Other Income) Act 2005 (ITTOIA 2005) and the Dividend Allowance would not be relevant..
The tax rates applying will be those applying to interest (section 378A ITTOIA 2005).
Dividends and other income distributions paid or deemed to be paid to UK resident individual shareholders in respect of Shares in the Fund which are deemed to be ‘bond funds’ may be taxed as ‘interest’ as opposed to ‘dividends’ under Chapter 2 of Part 4 of the Income Tax (Trading and Other Income) Xxx 0000 (ITTOIA 2005) and the Dividend Allowance would not be relevant .