Point in time view as at 01/04/2010.
Corporation Tax Act 2010, Section 487 is up to date with all changes known to be in force on or before 01 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)Public revenue dividends on securities which are in the name of trustees are not taken into account in calculating total profits so far as the dividends are applicable and applied only for the repair of—
(a)a cathedral, college, church or chapel, or
(b)a building used only for the purposes of divine worship.
(2)In this section “public revenue dividends” means—
(a)income from securities which is payable out of the public revenue of the United Kingdom or Northern Ireland, or
(b)income from securities issued by or on behalf of a government or a public or local authority in a country outside the United Kingdom.
(3)The exemption under subsection (1) requires a claim.
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