Non-qualifying distributions did not carry tax credit: tax years up to 2015-16

ITTOIA05/S400, which was repealed by FA16/S5 and SCH1 for tax years after 2015-16, applied when a person received a non-qualifying distribution, see SAIM5050. A non-qualifying distribution did not carry a tax credit.

The recipient of the non-qualifying distribution was treated as having paid income tax at the dividend ordinary rate (SAIM1080) on the actual amount of the non-qualifying distribution (so there was no grossing up).

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