Section 60 | Underlying tax to be left out of account on claim to that effect

(1)Subsection (2) applies if—

(a)under the arrangements a company resident in the United Kingdom makes a claim for an allowance by way of credit in accordance with this Chapter, and

(b)the claim relates to a dividend paid to the company by a company resident outside the United Kingdom.

(2)The claim may be framed so as to exclude amounts of underlying tax specified for the purpose in the claim.

(3)Any amounts of underlying tax so excluded are to be left out of account for the purposes of section 57.