Search Legislation

Finance Act 1989

 Help about what version

What Version

 Help about opening options

Opening OptionsExpand opening options

Status:

This is the original version (as it was originally enacted).

115Double taxation: tax credits

(1)Where any arrangements having effect by virtue of section 788 of the Taxes Act 1988 provide —

(a)for persons who are resident outside the United Kingdom and who receive distributions from companies resident in the United Kingdom to be entitled to tax credits, and

(b)for the amount paid to such a person by way of tax credit to be determined by reference to the amount to which an individual resident in the United Kingdom would have been entitled, subject to a deduction calculated by reference to the aggregate of the amount or value of the distribution and the amount of the tax credit paid,

the arrangements shall be construed as providing for that deduction to be calculated by reference to the gross amount or value of the distribution and tax credit, without any allowance for the deduction itself.

(2)This section shall have effect in relation to payments made before the passing of this Act as well as those made after that time, except that it shall not affect—

(a)the judgment of any court given before 25th October 1988, or

(b)the law to be applied in proceedings on appeal to the Court of Appeal or the House of Lords where the judgment of the High Court or the Court of Session which is in issue was given before that date.

Back to top

Options/Help

You have chosen to open The Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act without Schedules as a PDF

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?