Corporation Tax Act 2010 section 787

Exemption of manufactured dividends

Section 787 previously provided an exemption for certain manufactured dividends from corporation tax, but this provision was removed from the legislation with effect from 1 January 2014.

• Section 787 dealt with the exemption of manufactured dividends from corporation tax.
• The section was fully omitted from the Corporation Tax Act 2010 by the Finance Act 2013.
• The removal took effect from 1 January 2014, as part of broader reforms introduced by Schedule 29 of the Finance Act 2013.
• Any manufactured dividend arrangements on or after 1 January 2014 can no longer rely on this exemption and must be considered under the current rules.