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Finance Act 2009
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- SCHEDULE 19
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Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 102(4)(za) inserted by 2010 c. 33 Sch. 9 para. 3(3)
- Sch. 53 para. 2A-2D and cross-heading inserted by 2010 c. 33 Sch. 9 para. 7
- Sch. 53 para. 6A and cross-heading inserted by 2010 c. 33 Sch. 9 para. 8
- Sch. 53 para. 11A 11B and cross-heading inserted by 2010 c. 33 Sch. 9 para. 17
- Sch. 53 para. 14A and cross-heading inserted by 2010 c. 33 Sch. 9 para. 18
- Sch. 54 para. 9B 9C and cross-heading inserted by 2010 c. 33 Sch. 9 para. 11 (Sch. 54 para. 9B is amended before it comes into force by 2016 c. 24, Sch. 1 para. 66(5))
- Sch. 54 para. 12A 12B and cross-heading inserted by 2010 c. 33 Sch. 9 para. 19
- Sch. 54 Pt. A1 inserted by 2010 c. 33 Sch. 9 para. 10 (Sch. 9 para. 10 is amended before it comes into force by 2017 c. 32, Sch. 4 para. 182)
- Sch. 55 para. 6(3A)(za) inserted by 2015 c. 11 Sch. 20 para. 15(2)(a)
- Sch. 55 para. 6(4A)(za) inserted by 2015 c. 11 Sch. 20 para. 15(3)(a)
- Sch. 55 para. 17(4)(ba) inserted by 2015 c. 11 Sch. 20 para. 19
- Sch. 56 para. 3(1)(d) omitted by 2021 c. 26 Sch. 27 para. 40(4)(c)
Section 40
SCHEDULE 19U.K.Income tax credits for foreign distributions
This schedule has no associated Explanatory Notes
ITTOIA 2005U.K.
1U.K.ITTOIA 2005 is amended as follows.
2(1)Section 397A (tax credits for distributions of non-UK resident companies: UK residents and eligible non-UK residents) is amended as follows.U.K.
F1(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)In subsection (7), omit the definition of “minority shareholder”.
Textual Amendments
F1Sch. 19 para. 2(2)(3) omitted (with effect in accordance with Sch. 1 para. 73 to the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 1 para. 66(2)
F23U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F2Sch. 19 para. 3 omitted (with effect in accordance with Sch. 1 para. 73 to the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 1 para. 66(2)
F34U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F3Sch. 19 para. 4 omitted (1.1.2014) by virtue of Finance Act 2013 (c. 29), Sch. 1 para. 52, Sch. 29 para. 40
F45U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F4Sch. 19 para. 5 omitted (with effect in accordance with Sch. 1 para. 73 to the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 1 para. 66(2)
6(1)Section 397C (meaning of “minority shareholder”) is amended as follows.U.K.
(2)In subsection (1)—
F5(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b)omit “non-UK resident”.
F6(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F6(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F5Sch. 19 para. 6(2)(a) omitted (with effect in accordance with Sch. 1 para. 73 to the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 1 para. 66(2)
F6Sch. 19 para. 6(3)(4) omitted (with effect in accordance with Sch. 1 para. 73 to the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 1 para. 66(2)
F77U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F7Sch. 19 para. 7 omitted (with effect in accordance with Sch. 1 para. 73 to the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 1 para. 66(2)
8U.K.In section 873 (orders and regulations), after subsection (3) insert—
“(4)Further, subsection (2) does not apply if any other Parliamentary procedure is expressly provided to apply in relation to the order or regulations.”
Consequential amendments of other ActsU.K.
F89U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F8Sch. 19 para. 9 omitted (with effect in accordance with Sch. 1 para. 73 to the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 1 para. 66(2)
10U.K.In ICTA—
F9(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b)in section 840ZA(3)(b) (meaning of “tax advantage”), after “397(1)” insert “ or 397A(1) ”.
Textual Amendments
F9Sch. 19 para. 10(a) omitted (with effect in accordance with Sch. 1 para. 73 to the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 1 para. 66(2)
F1011U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F10Sch. 19 para. 11 omitted (with effect in accordance with Sch. 1 para. 73 to the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 1 para. 66(2)
F1112U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F11Sch. 19 para. 12 omitted (with effect in accordance with Sch. 1 para. 73 to the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 1 para. 66(2)
13U.K.In ITA 2007—
F12(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F13(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F14(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
for “397A(2)” substitute “ 397A(1) ”.
Textual Amendments
F12Sch. 19 para. 13(a) omitted (6.4.2014) by virtue of The Unauthorised Unit Trusts (Tax) Regulations 2013 (S.I. 2013/2819), regs. 1(3), 41(d) (with reg. 32)
F13Sch. 19 para. 13(b) omitted (1.1.2014) by virtue of Finance Act 2013 (c. 29), Sch. 1 para. 52, Sch. 29 para. 40
F14Sch. 19 para. 13(c) omitted (with effect in accordance with Sch. 1 para. 73 to the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 1 para. 66(2)
CommencementU.K.
14(1)The amendments made by this Schedule have effect in relation to—U.K.
(a)qualifying distributions arising on or after 22 April 2009,
(b)cash dividends paid over to a person under paragraph 68(4) of Schedule 2 of ITEPA 2003 on or after 22 April 2009,
(c)dividends treated under section 407 of ITTOIA 2005 as paid to a person on or after 22 April 2009, and
(d)manufactured overseas dividends that are representative of a distribution within paragraph (a), (b) or (c).
(2)In this paragraph—
“manufactured overseas dividend” has the same meaning as in Chapter 2 of Part 11 of ITA 2007;
“qualifying distribution” has the meaning given in section 989 of ITA 2007.
[F15(3)Section 873(4) of ITTOIA 2005 (inserted by paragraph 8), so far as relating to any order or regulations made after the passing of FA 2016 under any provision of ITTOIA 2005 other than section 397BA of that Act, has effect as if sub-paragraph (1) did not apply in relation to it.]
Textual Amendments
F15Sch. 19 para. 14(3) inserted (15.9.2016) by Finance Act 2016 (c. 24), Sch. 1 para. 66(3)
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