Revenue Note for Guidance

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Revenue Note for Guidance

59 Charge to tax on income from which tax has been deducted

The gross amount of income taxed at source is to be included in the total income of the recipient of that income. Such income is, therefore, chargeable income for the purposes of the charge to income tax provided for by section 15. A credit is to be given for the tax borne by deduction from the taxed income.

Taxed income in the context of this section means income from which tax is deductible by virtue of provisions relating to Schedule C or D, or section 237 (annual payments payable wholly out of taxed income) or section 238 (annual payments not payable out of taxed income).

The gross amount of the income taxed at source is charged under Case IV of Schedule D on the basis of the actual amount arising in the year of assessment. The amount of tax actually suffered by deduction is allowed as a credit.

Relevant Date: Finance Act 2020