Section 30 | Tax credits.

(1)Section 231 of the Taxes Act 1988 (tax credits for certain recipients of qualifying distributions) shall be amended in accordance with subsections (2) to (7) below.

(2)Repealed^F1

(3)Repealed^F1

(4)Subsection (2) (payment of tax credit to company resident in UK) shall cease to have effect.

(5)In subsection (3) (which includes provision for payment of excess of tax credit over income tax liability to person not being a company resident in the UK)—

(a)Repealed^F2

(b)the words “and subject to subsections (3A) and (3D) below where the credit exceeds that income tax, to have the excess paid to him” shall cease to have effect.

(6)Repealed^F3

(7)In consequence of subsection (5) above, subsections (3A) to (3D) shall cease to have effect.

(8)Section 231A of the Taxes Act 1988 (which is superseded by the foregoing provisions of this section) shall cease to have effect.

(9)Repealed^F4

(10)Repealed^F4

(11)This section has effect in relation to distributions made on or after 6th April 1999.