899 Meaning of “qualifying annual payment”
Income Tax Act 2007 (2007 c 3) | Legislation

899  Meaning of “qualifying annual payment”

(1)     In this Chapter “qualifying annual payment” means an annual payment that meets the conditions in subsections (2) to (5).

(2)     The payment must arise in the United Kingdom.

(3)     If the recipient is a person other than a company, the payment must be—

(a)     a payment charged to income tax under—

(i)     Chapter 7 of Part 4 of ITTOIA 2005 (purchased life annuity payments),

(ii)     section 579 of that Act (royalties etc from intellectual

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