Section 383 Charge to tax on dividends and other distributions

(1)

Income tax is charged on dividends and other distributions of a UK resident company.

(2)

For income tax purposes such dividends and other distributions are to be treated as income.

(3)

For the purposes of subsection (2), it does not matter that those dividends and other distributions are capital apart from that subsection.

Notes on Chapter 3

F1: Words in Pt. 4 Ch. 3 heading substituted (with effect in accordance with s. 34(2) of the amending Act) by Finance Act 2008 (c. 9), Sch. 12 para. 2
F2: Words in Pt. 4 Ch. 3 heading substituted (with effect in accordance with Sch. 1 para. 73 of the amending Act) by Finance Act 2016 (c. 24), Sch. 1 para. 3