The Manufactured Dividends (Tax) Regulations 1997

Returns by persons other than United Kingdom resident companies

8.—(1) This regulation applies in any case where under regulation 7 the relevant person is liable to account for an amount of tax in respect of any relevant period falling within a chargeable period.

(2) The relevant person shall, within 30 days from the end of the chargeable period, make a return for that period to the Board.

(3) A return under paragraph (2) shall show—

(a) the aggregate amount of the manufactured dividends received by the relevant person in the chargeable period in respect of which he is liable to account for tax under regulation 7,

(b) the aggregate amount of the manufactured dividends paid by the relevant person in the chargeable period in respect of which he is liable to account for tax under regulation 7,

(c) the aggregate amount of creditable amounts in respect of dividends and manufactured dividends received by the relevant person in the chargeable period,

(d) the amount of creditable amounts brought forward from the previous chargeable period under regulation 7(7);

(e) the amount of creditable amounts carried forward to the next chargeable period under regulation 7(7);

(f) the aggregate amount of tax for which he is liable to account under regulation 7 for the chargeable period which is the subject of the return.

(4) If it appears to an officer of the Board that there is a manufactured dividend which ought to have been and has not been included in a return under paragraph (2), or if he is otherwise dissatisfied with any such return, he may make an assessment on the relevant person to the best of his judgment.

(5) Section 98 of the Management Act(1) (“Section 98”) shall apply in relation to a return under paragraph (2) with the modification specified in paragraph (6).

(6) At the end of the second column of the Table in section 98 there shall be added—

• “Regulation 8(2) of the Manufactured Dividends (Tax) Regulations 1997.”

(1)

Section 98 was amended by paragraph 9 of Schedule 29 to the Income and Corporation Taxes Act 1988, section 164(2) to (5) of the Finance Act 1989, and section 68(3) of the Finance Act 1990.