SCHEDULES

SCHEDULE 1Consequential amendments

Part 1Income and Corporation Taxes Act 1988

115

1

Amend section 231AB (no tax credit for original owner under repurchase agreement in respect of certain manufactured dividends) as follows.

2

In subsection (1) after “section 231” insert “ above or section 397(1) of ITTOIA 2005 ”.

3

In subsection (1A)—

a

for “a relevant person”, “section 233(1)” and “Schedule F” substitute “ a person resident in the United Kingdom ”, “ section 399(2) of ITTOIA 2005 ” and “ dividend ” respectively, and

b

omit the second sentence.