Corporation Tax Act 2010 (c. 4)

Part 17 Manufactured payments and repos

Chapter 2 Manufactured dividends

784 Treatment of recipient of manufactured dividend

(1) If a person pays a manufactured dividend to another person, the Corporation Tax Acts apply in relation to—

(a) the recipient of the manufactured dividend, and

(b) companies claiming title through or under the recipient,

as if the manufactured dividend were a dividend on the shares.

(2) Subsection (1) is subject to—

(a) section 786 (treatment of recipient: Real Estate Investment Trusts),

(b) section 796 (manufactured dividends: amounts exceeding underlying payments), and

(c) section 803 (power to deal with special cases).