Income Tax (Trading and Other Income) Act 2005 section 397A

Tax credits for distributions of non-UK resident companies: UK residents and eligible non-UK residents

Section 397A formerly provided rules for tax credits attached to distributions from non-UK resident companies received by UK residents and eligible non-UK residents, but has been removed from the legislation.

• Section 397A was introduced by Finance Act 2008 to deal with tax credits on distributions from non-UK resident companies
• It applied to recipients who were either UK resident or eligible non-UK residents
• The section was omitted in its entirety by Finance Act 2016, Schedule 1, paragraph 1(1)
• The removal took effect from 15 September 2016, meaning the provision no longer has any practical application