SCHEDULES
SCHEDULE 6 Foreign income dividends
Transitional provisions
23
Where a foreign income dividend paid by a company before 6th April 1999—
a
is received by a person on or after that date, and
b
is not one in relation to which section 246D of the Taxes Act 1988 applies,
the recipient shall be treated, for all purposes of the Tax Acts, as receiving instead a qualifying distribution made by a company resident in the United Kingdom of an amount equal to nine tenths of the amount of the foreign income dividend.