Commentary

D5.158 Tax credits on distributions received prior to 6 April 2016

Corporate tax
Corporate tax | Commentary

D5.158 Tax credits on distributions received prior to 6 April 2016

Corporate tax | Commentary

D5.158 Tax credits on distributions received prior to 6 April 2016

The provisions in this commentary were repealed for distributions paid on or after 6 April 2016. The repeal was part of the changes introduced to dividend taxation from that date which included abolition of the dividend tax credit, changes to dividend tax rates and the introduction of a dividend allowance. For details see Division E1.4.

Where an exempt (see D5.150–D5.157) qualifying distribution (see D5.103) was paid to a UK resident company by another company (UK resident or not) the recipient was entitled to a tax credit in respect of that receipt1. It therefore followed that the recipient of a non-qualifying distribution was not entitled to a tax credit in respect of the distribution

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