SCHEDULES
SCHEDULE 12Tax credit for certain foreign distributions
Part 2Consequential provision
ITTOIA 2005
19
In section 406 (dividends of non-UK resident companies: later charge where cash dividends retained in SIPs are paid over), after subsection (4) insert—
4A
For the purposes of determining—
a
whether the participant is entitled to a tax credit under section 397A in respect of a cash dividend so charged, and
b
the amount of that tax credit,
that section applies as it has effect for the tax year in which the cash dividend is paid over.