Part 17 U.K. Manufactured payments and repos

Chapter 1 U.K. Introduction

780 Overview of Part U.K.

(1) This Part is about the corporation tax treatment of some arrangements for the transfer of securities.

(2) Chapters 2 to 4 deal with arrangements for the transfer of securities under which provision is made for the payment of amounts representative of dividends or interest in respect of the securities.

(3) In Chapter 5—

(a) sections 808 to 810 prevent parties to stock lending arrangements and certain other arrangements from being entitled to tax credits in some circumstances, and

(b) section 812 deals with some stock lending arrangements under which the dividends or interest in respect of the transferred securities are paid to a person other than the lender.

(4) Chapter 6 contains definitions that apply for the purposes of this Part.

(5) For the meaning of “stock lending arrangements” see section 805.

781 Key definitions U.K.

(1) In this Part “manufactured dividend” has the meaning given by section 782.

(2) In this Part “manufactured overseas dividend” has the meaning given by section 790.