Finance Act 2007 · s 47

Suggest a correction

Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.

What is wrong?Wrong or mistyped wordsWrong structure or numberingWrong title or detailsText that appears twice

What should change, and whyUp to 2,000 characters.The text as it should read (optional)Edit the text above. Up to 20,000 characters.Where you checked it (optional)A link to the official version, if you have one.

The text as we hold it

Open the official text

s 47Reduction of 108 balance

Where a company has paid dividend to any of its shareholders—

(a)

on any date during the period from the first day of the basis period for year of assessment 2008 to 31 December 2007, in the case where the basis period of a company for the year of assessment 2007 ends on a day other than 31 December 2007; or

(b)

on any date during the period from 1 January 2008 to 31 December 2013, from which tax has been deducted or deemed to have been deducted in accordance with this Part, the 108 balance or revised 108

balance shall be reduced first by the amount of tax so deducted or deemed to have been deducted in respect of paragraph (a)

until the 108 balance or revised 108 balance is reduced to nil.