Finance Act 2011, Paragraph 20 is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
20(1)Section 918 (manufactured dividends on UK shares: REITs) is amended as follows.U.K.
(2)After subsection (3) insert—
“(3A)But subsection (3) does not apply if—
(a)the manufactured dividend is paid by a UK resident company in the course of a trade carried on through a permanent establishment in a territory outside the United Kingdom, and
(b)section 18A of CTA 2009 has effect in relation to the company for the accounting period in which it is paid.”
(3)In subsection (4), for paragraphs (a) and (b) substitute—
“(a)is non-UK resident and pays the manufactured dividend otherwise than in the course of a trade carried on through a branch or agency in the United Kingdom, or
(b)is a UK resident company and pays the manufactured dividend in the course of a trade carried on through a permanent establishment in a territory outside the United Kingdom and section 18A of CTA 2009 has effect in relation to the company for the accounting period in which it is paid,”.
(4)After subsection (5) insert—
“(5A)But a UK resident is not a United Kingdom recipient if—
(a)it is a UK resident company which receives the manufactured dividend for the purposes of a trade carried on by the recipient through a permanent establishment in a territory outside the United Kingdom, and
(b)section 18A of CTA 2009 has effect in relation to the company for the accounting period in which it is received.”
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