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HMRC internal manual

Repayment Claims Manual

RO instructions: Foreign Income Dividends

Foreign Income dividends (to be distinguished from income assessable under Case V, Schedule D) are similar to Stock Dividends. They first appeared in 1993/94.

For tax purposes, shareholders are treated as having received income which has suffered tax at the lower rate. The amount to be included in a Net Statutory Income computation is the amount of the dividend x 100/80.

As with Stock Dividends, income tax treated as paid is not repayable, and cannot be used to cover charges (RE124).