The parts of ICTA88/S247 relating to payments of dividends were repealed from 6April 1999 onwards. The remainder of S247 was repealed by FA01 in relation to payments of interest or charges made after 11 May 2001. The following page relates to periods prior to these changes.

Paying and receiving companies can make elections under:

and

only where both are bodies corporate resident in the UK. Where the companies are subsidiaries of the same parent company, the parent company must also be resident in theUK.

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