(1) Where, in relation to any year of assessment, a person is within the charge to income tax and has borne dividend withholding tax in relation to a relevant distribution to which the person is beneficially entitled which tax is referable to that year of assessment, the person may claim to have that dividend withholding tax set against income tax chargeable for that year of assessment and, where that dividend withholding tax exceeds such income tax, to have the excess refunded to the person.
(2) Where, in a year of assessment or in an accounting period of a company (as appropriate), in relation to any year of assessment, a person is not within the charge to income tax and has borne dividend withholding tax in relation to a relevant distribution to which the person is beneficially entitled which tax is referable to that year of assessment, the person may claim to have the amount of that dividend withholding tax refunded to the person.
(3) Where a person has borne dividend withholding
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