Where taxable dividend coupons attached to foreign shares are sold through a UK bank, or to a UK dealer in coupons by a person who is not a bank or a coupon dealer, the proceeds received are chargeable to corporation tax under CTA 2009, Pt. 10, Ch. 6 (s. 974). The requirement that the dividend coupons are taxable was added by FA 2009, Sch. 14, para. 25 with effect for distributions paid on or after 1 July 2009, and is explained below (see under sub-heading Definitions).

Prior to the enactment of the Corporation Tax Act 2009, profits from the sale of dividend coupons attached to foreign shares were charged to tax under Sch. D, Case V.

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