Explanatory note

These Regulations amend regulation 2(2) of the Manufactured Dividends (Tax) Regulations 1997 (S.I. 1997/993) so as to exclude from the definition of “creditable amount” cases where such amounts are in respect of dividends or manufactured dividends that are paid on or after 6th April 1999. The amendment is made in consequence of the abolition (by virtue of section 31 of the Finance Act 1998 (c. 36)) of advance corporation tax in respect of distributions of companies made on or after 6th April 1999.