575Allowable deductions: restriction on double-countingU.K.
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(1)This section applies if an amount has been allowed as a deduction under section 574(2) by reference to the whole or part of—
(a)the dividend or payment mentioned in section 574(4)(a), or
(b)the deemed payment of interest mentioned in section 574(7)(a).
(2)No further deduction is allowable by reference to all or part of the matched portion of the dividend, payment or deemed payment.
(3)The “matched portion” of the dividend, payment or deemed payment means—
(a)the whole of it, if the amount has been allowed as a deduction by reference to the whole of it, or
(b)the part of it by reference to which the amount has been allowed as a deduction, in any other case.