152 Explanation of tax credit to be annexed to interest and dividend warrants

Summary

This section provides that every warrant or cheque drawn in payment of a dividend or interest which is a distribution is to be accompanied by a statement in writing giving particulars of the dividend/interest paid.

Details

Dividend warrants

(1) Every warrant or cheque drawn in payment by a company of a dividend, or in respect of interest treated as a distribution, must be accompanied by a statement in writing giving particulars of —

• the amount of the dividend (distinguishing any part of the dividend paid out of capital profits) or the amount of interest paid, and
• the period for which the payment is made.

Penalties

(2) A company failing to comply with the requirements in connection with the information to accompany dividend warrants is liable for a penalty of €200 for each failure, subject to a maximum penalty of €2,000 in respect of failures connected with any one payment of a distribution, dividend or interest.

Information

(3) A company making a distribution (other than a distribution to which subsection (1) refers) is obliged, when requested by the recipient of the distribution, to furnish a statement showing the amount of the distribution.

Relevant Date: Finance Act 2019