Part 17 Manufactured payments and repos

Chapter 6 Interpretation of Part

813 The gross amount of a manufactured overseas dividend etc
(1) This section applies for the purposes of this Part.
(2) The gross amount of a manufactured overseas dividend is an amount equal to the gross amount of the overseas dividend of which the manufactured overseas dividend is representative.
(3) The gross amount of an overseas dividend is the sum of—
(a) so much of the overseas dividend as remains after the deduction of any overseas tax chargeable on it,
(b) the amount of any overseas tax so deducted, and
(c) the amount of any overseas tax credit in respect of the overseas dividend.
(4) For the purposes of this section, a credit is an overseas tax credit if it—
(a) is a credit under the law of a territory outside the United Kingdom in respect of overseas tax, and
(b) corresponds to a tax credit.