Part 4Savings and investment income
Chapter 3Dividends etc. from UK resident companies F2and tax F1treated as paid in respect of certain distributions
Words in Pt. 4 Ch. 3 heading substituted (with effect in accordance with Sch. 1 para. 73 of the amending Act) by Finance Act 2016 (c. 24), Sch. 1 para. 3
Amounts treated as dividends
386Open-ended investment company dividend distributions
1
This section applies if the distribution accounts of an open-ended investment company show the total amount available for distribution to owners of shares in the company as available for distribution as dividends.
2
Subsection (1) is subject to subsection (5).
3
For income tax purposes dividends are treated as paid to the owners of the shares by the company.
4
The amount of the dividends treated as paid to each owner is so much of the total amount mentioned in subsection (1) as is proportionate to the owner's shares.
5
This section does not apply if the open-ended investment company is an approved personal pension scheme.
6
See section 388 for the interpretation of this section and section 387.
Words in Pt. 4 Ch. 3 heading substituted (with effect in accordance with s. 34(2) of the amending Act) by Finance Act 2008 (c. 9), Sch. 12 para. 2