Foreign Tax Credit Relief for overseas dividends

Hi, I have a question about method of calculation for Foreign Tax Credit Relief for dividends received from overseas. My question is whether a full amount of foreign tax relief (calculated by multiplying Relevant Rate * gross amount of dividend) is eligible to offset against UK tax due on dividends or only the portion above £2000 threshold. To illustrate, let's assume that Foreign Dividend received is £3000 and Maximum foreign tax credit relief is 15%. Is 15%*3000, i.e. £450 eligible to offset against UK dividend tax or just 15% * 1000, i.e. £150. I'm aware that the total amount of Foreign Tax Credit Relief cannot be larger than the tax due on UK dividend in total.

Hi Marcin,
The relief will be restricted to the maximum of any UK tax that is due on this income, as the first £2000 is tax free, you would only be liable on the £1000 (assuming no UK dividends) and as such relief would only be due on £1000.
Thank you.