Income Tax (Trading and Other Income) Act 2005 section 387

Date when dividends paid under section 386

Section 387 determines the date on which dividends from open-ended investment companies, treated as paid under section 386, are regarded as having been paid for income tax purposes.

• The deemed payment date depends on whether a specific date is set out in the company's instrument of incorporation and its current prospectus (including supplements).
• Where the open-ended investment company is part of an umbrella company, the relevant parts of the umbrella company's incorporation and prospectus documents are used instead.
• If a date for the distribution period is specified in these documents, the dividends are treated as paid on that specified date.
• If no date is specified, the dividends are treated as paid on the last day of the distribution period in question.