»Ê¹ÚÌåÓýapp

»Ê¹ÚÌåÓýapp parts of ICTA88/S247 relating to payments of dividends were repealed from 6 April 1999 onwards. »Ê¹ÚÌåÓýapp remainder of Section 247 was repealed by FA01 in relation to payments of interest or charges made after 11 May 2001.

You can accept a multiple election covering three or more companies.

»Ê¹ÚÌåÓýapp election should normally be made to the Inspector dealing with the company owned by the consortium. It will be the responsibility of the Inspector to:

• be satisfied that the election is valid, after any necessary consultation with any other Inspector involved,
• notify any other Inspector involved of the terms and effective date of the election,

• send a report to the Audit Unit, IR Savings, Pensions, Share Schemes (the Edinburgh office for Scottish cases), where the recipient is a charity.

• adequately set out the facts necessary to show that the companies are entitled to make the election,
• be signed by a director, secretary or other person duly authorised to act on behalf of each company concerned,
• make clear, as regards any two signing companies, whether their joint election extends (if applicable) to:
  • dividends paid by either of the companies to the other,

and

• charges on income/loan relationship interest paid by either company to the other.