Freely Available British and Irish Public Legal Information
[Home] [Databases] [World Law] [Multidatabase Search] [Help] [Feedback]
United Kingdom Statutory Instruments
You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Income Tax (Manufactured Overseas Dividends) (Amendment No. 2) Regulations 1997 No. 2706
URL: http://www.bailii.org/uk/legis/num_reg/1997/uksi_19972706_en.html
[New search] [Help]
Statutory Instruments
1997 No. 2706
INCOME TAX
The Income Tax (Manufactured Overseas Dividends) (Amendment No. 2) Regulations 1997
Made
17th November 1997
Laid before the House of Commons
18th November 1997
Coming into force
9th December 1997
The Treasury, in exercise of the powers conferred on them by paragraphs 1(1) and 4(8) of Schedule 23A to the Income and Corporation Taxes Act 1988(1), hereby make the following Regulations:
1. These Regulations may be cited as the Income Tax (Manufactured Overseas Dividends) (Amendment No. 2) Regulations 1997 and shall come into force on December 1997.
2. In regulation 12 of the Income Tax (Manufactured Overseas Dividends) Regulations 1993(2)-
(a)in paragraph (2)(a) the words "subject to paragraph (3)" shall be omitted;
(b)paragraph (3) shall be omitted.
Bob Ainsworth
Jon Owen Jones
Two of the Lords Commissioners of Her Majesty's Treasury
17th November 1997
Explanatory Note
(This note is not part of the Regulations)
These Regulations amend the Income Tax (Manufactured Overseas Dividends) Regulations 1993 (S.I. 1993/2004) by omitting paragraph (3) of regulation 12 of those Regulations. Regulation 12 relates to the tax treatment of manufactured overseas dividends paid to collecting agents that are representative of foreign dividends. Paragraph (3) of regulation 12 is rendered obsolete by the Income Tax (Paying and Collecting Agents) (Amendment) Regulations 1997 (S.I. 1997/2705) which come into force at the same time as these Regulations.
1988 c. 1. Schedule 23A was inserted by paragraph 1 of Schedule 13 to the Finance Act 1991 (c. 31). Paragraph 4(8) of Schedule 23A was amended by paragraph 28(2) of Schedule 7, and paragraph 7 of Schedule 29, to the Finance Act 1996 (c. 8). See the definition of "dividend manufacturing regulations" in paragraph 1(1) of Schedule 23A.