The Tax Credits (Excluded Companies) Regulations 2009
From 22nd April 2009, an individual who owns a ten percent or greater shareholding in, and who is in receipt of dividends from, a non-UK resident company (within the meaning of the Income Tax (Trading and Other Income) Act 2005 (c. 5)) (“the Act”) will be entitled to a dividend tax credit as set out in that Act if the company in question is a resident of a qualifying territory (within the meaning of section 397BA of the Act). If the dividend is one of a series paid as part of a scheme which is a tax advantage scheme (as defined in section 397AA (5) of the Act), each company paying a dividend which is one of that series must be resident in a qualifying territory.