Section 740 — Corporation Tax Act 2010: Abnormal dividends: general

Abnormal dividends: general 740 1 An amount received by way of dividend is treated as abnormal for the purposes of this Part if the appropriate authority is satisfied—

a in any case that the excessive return condition is met (see section 741), or b in the case of a dividend at a fixed rate, that the excessive accrual condition is met (see section 742).

2 In subsection (1) “ the appropriate authority ” means whichever of the following is determining the question whether the amount is abnormal for the purposes of this Part—

a an officer of Revenue and Customs, b the Commissioners for Her Majesty's Revenue and Customs, or c the tribunal.