The parts of ICTA88/S247 relating to payments of dividends
were repealed from 6 April 1999 onwards. This page relates to
periods before that date.
The statute does not explicitly state a time limit for a paying company to give a notice to the Collector under ICTA88/S247 (3). However, it is implicit that the company must give the notice within 14 days of the end of the relevant CT61 return period. This is the date by which the company has to identify any dividends paid to other group members to which the group election under Section 247 (1) does not apply.
A company may:
Such a notice should not be accepted. A retrospective notice may
be admitted only where there is evidence of a decision taken prior
to the expiry of the time limit to give notice.
Where a late notice under Section 247 (3) is not accepted, arrange for repayment of any ACT paid. Before you make the repayment you should check that payment of the ACT has not led to: