Finance Act 2006 (c. 25)

SCHEDULES

SCHEDULE 6 U.K. Avoidance involving financial arrangements

Dividend stripping: subsequent sales etc of rights to receive dividends etc U.K.

2 (1) Section 730 of ICTA (transfers of rights to receive distributions in respect of shares) is amended as follows. U.K.

(2) Omit subsection (3) (proceeds of subsequent sales etc of rights to receive distributions not to be regarded as income of the seller etc).

(3) The amendment made by this paragraph has effect in relation to sales or other realisations on or after 20th January 2006.