Section 13 Income charged at the dividend ordinary and dividend upper rates: individuals
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(1) Income tax is charged at the dividend ordinary rate on an individual’s income which—
(a) is dividend income,
(b) would otherwise be charged at the ...1 basic rate, and
(c) is not relevant foreign income charged in accordance with section 832 of ITTOIA 2005 (relevant foreign income charged on the remittance basis).
Amendments
1 The words “starting or” omitted by Finance Act 2008 section 5 and Schedule 1 para 6(a) for 2008-09 and later tax years.
(2) Income tax is charged at the dividend upper rate on an individual’s income which—
(a) is dividend income, ...1
(b) would otherwise be charged at the higher rate[, and
(c) is not relevant foreign income charged in accordance with section 832 of ITTOIA 2005.]2
Amendments
1 The word “and” omitted by Finance Act 2008 section 68(1)(a) for 2008-09 and later tax years.
2 Para (c) and the word “and” preceding it inserted by Finance Act 2008 section 68(1)(b) for 2008-09 and later tax years.
(3) Subsections (1) and (2) are subject to any provisions of the Income Tax Acts (apart from section 10) which provide for income to be charged at different rates of income tax in some circumstances.
(4) Section 16 has effect for determining the extent to which an individual’s dividend income would otherwise be charged at the ...1 basic or higher rate.
Amendments
1 The words “starting,” omitted by Finance Act 2008 section 5 and Schedule 1 para 6(b) for 2008-09 and later tax years.
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