Corporation Tax Act 2009 section 975

Meaning of "foreign holdings" etc.

Section 975 defines the key terms "foreign holdings", "dividend coupons" and "coupons" as used throughout the chapter dealing with the taxation of income from foreign shares.

• "Foreign holdings" means shares located outside the United Kingdom that are issued by or on behalf of a body of persons not resident in the UK.
• "Dividend coupons" means coupons for dividends payable in respect of those foreign holdings.
• "Coupons" is broadly defined to include not only traditional coupons but also warrants and bills of exchange that claim to be drawn or made in payment of dividends on foreign holdings.
• The definition of "dividends" in this context refers solely to income from shares and does not extend to interest or other annual payments, since coupons relating to securities (as opposed to shares) have been excluded from the scope of this chapter.