Income Tax Act 2007 section 769

Recovery of tax: certificates of tax paid etc.

Section 769 deals with the certificates of tax paid that HMRC must provide when tax is being recovered under the anti-avoidance provisions relating to certain transactions in securities.

• When HMRC recovers tax under these provisions, an officer of Revenue and Customs must issue a certificate showing the amount of income tax or capital gains tax already paid on the relevant income
• The certificate serves as evidence of tax already accounted for, ensuring that the taxpayer is not taxed twice on the same amount
• The certificate is specifically required for the purposes of calculating the adjustable amount used in the tax recovery process
• A related provision in Part 15 of the Act (section 944) addresses the treatment of deductions of tax at source in connection with these certificates