CTA 2009, Pt. 10, Ch. 7 applies the charge to corporation tax to annual payments which are not otherwise charged to corporation tax (s. 977). The scope of the charge under Ch. 7 is considered in detail below.
CTA 2009, Ch. 7 rewrites ICTA 1988, s. 18 and combines the former charges on annual payments under Sch. D, Case III and on foreign annual payments under Sch. D, Case V. The phrase ‘annual payment’ was not defined in the source legislation and is not defined in the rewritten legislation. The decision not to provide a statutory definition of annual payment is explained as follows in the Explanatory Notes to the Corporation Tax Act 2009 (link at ¶700-275):
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