Introduction Details of the Section
2.Subsection (2) amends the definition of the mixer cap rate at section 799(1A) so that the mixer cap rate matches the actual or, as the case may be, average corporation tax rate applicable to the profits of the company receiving the dividend for the period of receipt.
3.Subsection (4) amends section 801(2) so that the mixer cap rate applied at each lower tier of a dividend chain is applied according to the CT rate applicable to the profits of the company for the period in which the dividend referred to in Section 801(1) is received.
4.Subsection (5) amends the version of section 799(1A) set out in subsection 801(2B) in the same way as subsection (2) of this section.