Paragraph 515

United Kingdom

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch. 1 para. 179(2)(a) omitted by Finance Act 2008 s. 41(7)(k)
Sch. 1 para. 179(2)(b) omitted by Finance Act 2008 s. 41(7)(k)
Sch. 1 para. 232 repealed by Finance Act 2012 Sch. 39 para. 28(1)
Sch. 1 para. 180 omitted by Finance Act 2008 s. 41(7)(k)
Sch. 1 para. 181 omitted by Finance Act 2008 s. 41(7)(k)

(1)

Amend section 397 (tax credits for qualifying distributions: UK residents and eligible non-UK residents) as follows.

(2)

In subsection (2) omit paragraph (b) and the “or” immediately before it.

F1(3)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)

In subsection (6) for the words from “section 231AA” to “umbrella scheme),” substitute—

“section 504(4) of ITA 2007 (disapplication of certain provisions for income of unauthorised unit trusts),
section 592 of ITA 2007 (no tax credits for borrower under stock lending arrangement),
section 593 of ITA 2007 (no tax credits for interim holder under repo),
section 594 of ITA 2007 (no tax credits for original owner under repo),”.

Annotations

Textual amendments

F1: Sch. 1 para. 515(3) omitted (with effect in accordance with Sch. 1 para. 73 of the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 1 para. 63(18)