SCHEDULES

SCHEDULE 16 Foreign income dividends

Part III Insurance companies etc.

8

1

Section 802 of the Taxes Act 1988 (UK insurance companies trading overseas) shall be amended as follows.

2

In subsection (2)(a) after “franked investment income” there shall be inserted “ , foreign income dividends ”.

3

The following subsection shall be inserted after subsection (3)—

4

In this section “foreign income dividends” shall be construed in accordance with Chapter VA of Part VI.