SCHEDULES
C1SCHEDULE 7 Special treatment for certain distributions
Dividends on fixed rate preference shares
F15
1
A qualifying distribution consisting in a dividend on a fixed-rate preference share does not fall within paragraph 1(3) above by reason only that any of the specified matters is made referable to the terms on which the share was issued.
2
In this paragraph “fixed-rate preference share” means—
a
any fixed rate preference share within the meaning of F2paragraph 13 of Schedule 28B to the Taxes Act 1988; or
b
any share which would be such a share if the dividends mentioned in F3paragraph 13(6)(c)(i) of that Schedule included dividends fixed by reference to a standard published rate of interest.
F43
For the purposes of sub-paragraph (2) above, any reference in paragraph 13(6) of Schedule 28B to shares shall be taken as a reference to shares within the meaning of this Schedule.
Sch. 7 excluded (28.4.1997) by S.I. 1997/1154, reg. 25(10)