Part 4Savings and investment income
Chapter 3Dividends etc. from UK resident companies F1and tax credits etc. in respect of certain distributions
Amounts treated as dividends
389Authorised unit trust dividend distributions
1
This section applies if the distribution accounts of an authorised unit trust show the total amount available for distribution to unit holders as available for distribution as dividends.
2
Subsection (1) is subject to subsection (6).
3
For income tax purposes dividends are treated as paid to the unit holders.
4
The amount of the dividends treated as paid to each unit holder is so much of the total amount mentioned in subsection (1) as is proportionate to the unit holder's rights.
5
The dividends are treated as paid on the shares and by the company referred to in F2section 617(1) of CTA 2010 (which relates to the trustees of an authorised unit trust being treated as a UK resident company in which the unit holders' rights are shares).
6
This section does not apply if the authorised unit trust is an approved personal pension scheme.
7
See section 391 for the interpretation of this section and section 390.
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