advance corporation tax


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advance corporation tax

a sum payable to the revenue when a company paid a dividend to its shareholders, abolished for distributions made after April 1999.
References in periodicals archive ?
In addition, if the company then distributed the foreign dividends to its shareholders, they used to be subject to advance corporation tax -now abolished by Mr Brown -while dividends from a UK subsidiary were effectively exempted by ACT credits.
We have had changes to advance corporation tax rules that hit the pension funds and the introduction of the minimum wage and extra rights for employees.
But Mr Portillo said changes to advance corporation tax was costing charities pounds 500 million a year.
Examples include the capital cost allowance in Canada, the advance corporation tax in the United Kingdom, tax basis indexing in Mexico, tax holidays in Ireland and the U.
These have included a pounds 5 billion per year raid on pension funds through the abolition of advance corporation tax, increased revenues from inheritance tax due to house-price rises outstripping rises in the IHT threshold, and the freezing of personal tax allowances between 2002 and 2004, which saw the real value of individuals' tax-free earnings fall behind inflation.
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