In section 406 (dividends of non-UK resident companies: later charge where cash dividends retained in SIPs are paid over), after subsection (4) insert—

“(4A)

For the purposes of determining—

(a)

whether the participant is entitled to a tax credit under section 397A in respect of a cash dividend so charged, and

(b)

the amount of that tax credit,

that section applies as it has effect for the tax year in which the cash dividend is paid over.”