Part 11Manufactured payments and repos
Chapter 1Introduction
F7565Overview of Part
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F7566Meaning of “UK shares” and “UK securities”
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F7567Meaning of “overseas shares”, “overseas securities” and “overseas dividend”
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F7568Meaning of “stock lending arrangement”
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F7569Meaning of “repo”
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F7570Meaning of “buying back” securities etc
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F7571Meaning of “related” agreements
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Chapter 2Manufactured payments
Introduction
F7572Overview of Chapter
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F7572AMeaning of “avoidance arrangements”
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Manufactured interest on UK securities
F7578Manufactured interest on UK securities
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F7579Allowable deductions...
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F7580Allowable deductions: restriction on double counting
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Manufactured overseas dividends
F7581Manufactured overseas dividends
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F7581AAvoidance arrangements
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F7582Powers about manufactured overseas dividends
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Special cases
F7583Manufactured payments exceeding underlying payments
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F7584Manufactured payments less than underlying payments
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F7585Power to deal with other special cases
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General regulation-making powers
F7586Powers about administrative provisions
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F7587Power for manufactured payments to be eligible for relief
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F7588Regulation-making powers: general
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Interpretation
F7589Meaning of “gross amount”: interest and manufactured overseas dividends
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F7590Meaning of “relevant withholding tax”
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F7591Interpretation of other terms used in Chapter
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Chapter 3Tax credits: stock lending arrangements and repos
Stock lending arrangements
F7592No tax credits for borrower under stock lending arrangement
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Repos
F7593No tax credits for interim holder under repo
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F7594No tax credits for original owner under repo
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Interpretation
F7595Meaning of “manufactured dividend”
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Chapter 4Deemed manufactured payments
Stock lending arrangements
596Deemed manufactured payments: stock lending arrangements
F81
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F81A
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F81B
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F81C
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F82
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F83
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F84
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F45
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F2597Deemed interest: cash collateral under stock lending arrangements
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F2598Cash collateral under stock lending arrangements: supplementary
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F2599Sections 597 and 598: quasi-stock lending arrangements and quasi-cash collateral
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F2600Meaning of “quasi-stock lending arrangements” and “quasi-cash collateral”
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Repos
F2601Repo cases in which deeming rules apply
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F2602Deemed manufactured payments: repos
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F2603Deemed deductions of tax
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F2604Deemed increase in repurchase price: price differences under repos
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F2605Deemed increase in repurchase price: other income tax purposes
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Interpretation
C1606Interpretation of Chapter
F61
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F62
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F63
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F14
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F65
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F66
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F66A
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F67
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F98
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F59
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F510
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Chapter 5Price differences under repos
Main tax treatment
F3607Treatment of price differences under repos
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F3608Exceptions to section 607
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Additional tax treatment
F3609Additional income tax consequences of price differences
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Interpretation
F3610Repurchase price in deemed manufactured payment case
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Power to modify
F3611Power to modify Chapter in non-arm's length case
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Chapter 6Powers to modify repo provisions
F3612Non-standard repo cases
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F3613Redemption arrangements
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F3614Sections 612 and 613: supplementary
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