Finance Act 2003 (c. 14)

SCHEDULES

SCHEDULE 38 U.K. Sale and repurchase of securities etc

Increase of repurchase price of UK securities by amount of deemed manufactured dividend U.K.

1 U.K. In section 737C of the Taxes Act 1988 (deemed manufactured payments)—

(a) in subsection (3)(b) (repurchase price of UK equities to be treated as increased by gross amount of deemed manufactured dividend), omit “gross”, and

(b) omit subsection (4) (definition of gross amount).