Part 13Tax avoidance
Chapter 1Transactions in securities
Circumstances in which income tax advantages obtained or obtainable
692Abnormal dividends: general
1
An amount received by way of dividend is treated as abnormal for the purposes of this Chapter if the appropriate authority is satisfied—
a
in any case that the excessive return condition is met (see section 693), or
b
in the case of a dividend at a fixed rate, that the excessive accrual condition is met (see section 694).
2
In subsection (1) “the appropriate authority” means whichever of the following is determining the question whether the amount is abnormal for the purposes of this Chapter—
a
an officer of Revenue and Customs,
b
the Commissioners for Her Majesty's Revenue and Customs,
c
the Special Commissioners, or
d
the tribunal appointed under section 704.