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Shares without dividend rights are ordinary share capital (HMRC v McQuillan)

Shares without dividend rights are ordinary share capital (HMRC v McQuillan)
Published on: 07 September 2017
Published by: LexisPSL
  • Shares without dividend rights are ordinary share capital (HMRC v McQuillan)
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Article summary

Tax analysis: The Upper Tribunal (UT) has overturned a decision of the First-tier Tribunal (FTT) and held that shares with no dividend rights do not carry a ‘right to a dividend at a fixed rate’, and do therefore count as ordinary share capital for tax purposes. or take a trial to read the full analysis.

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