Taxes Consolidation Act 1997 Schedule 2A paragraph 7B

Declaration to be made by designated stockbroker operating special portfolio investment account

Paragraph 7B of Schedule 2A sets out the requirements for a declaration that allows a designated stockbroker operating a special portfolio investment account to receive relevant distributions without deduction of dividend withholding tax.

• A designated stockbroker operating a special portfolio investment account may receive relevant distributions free of DWT, provided the appropriate written declaration has been made to the company paying the distribution.
• The declaration must be made and signed by the person beneficially entitled to the distributions, confirm the recipient's status as a designated stockbroker, and include their name and tax reference number.
• The declaration must state that the distributions will be applied as income or gains of a special portfolio investment account within the meaning of section 838 and be in such form as Revenue prescribes.
• The declarer must undertake to notify the paying company in writing if the designated stockbroker ceases to qualify, and must provide any other information Revenue may reasonably require.