SCHEDULES
SCHEDULE 1Abolition of dividend tax credits etc
Further amendments in CTA 2010
44
1
Section 1115 (meaning of “new consideration” in Part 23) is amended as follows.
2
In subsections (5)(a) and (6)(b) for “qualifying” substitute “
non-CD
”
.
3
After subsection (6) insert—
7
In this section “non-CD distribution” means any distribution other than one which is a distribution for the purposes of the Corporation Tax Acts only because it falls within paragraph C or D in section 1000(1) (redeemable share capital or security issued as bonus in respect of shares in, or securities of, the company).