| 1 | Company distributions: are we any clearer? Mainly prompted by concerns about HM Revenue & Custom's stance on distributions of a capital nature, the Finance (No 2) Bill 2010-2011 (also referred to as the Finance (No 3) Bill, as it is the third Finance Bill of 2010) contains provisions designed to "restore previous expectations about the way that distributions are taxed". | Articles | 01-Dec-2010 |
| 2 | Corporation Tax: FII group litigation: validity of time limits The Supreme Court has held that the legislation that retroactively denied parties to the Franked Investment Income group litigation the benefit of the extended time limit for bringing their claims breached their legitimate expectations, and agreed to refer a further question concerning the validity of a further restriction set out in section 304 of the Finance Act 2004 to the European Court of Justice. | Articles | 28-Jun-2012 |
| 3 | Corporation Tax: Manufactured overseas dividends The Court of Appeal has held that certain manufactured payments represented manufactured overseas dividends in the hands of a UK resident company, even though the dividends had been paid out of share premium account, and so were deductible as management expenses. | Articles | 02-May-2012 |
| 4 | Corporation Tax: Manufactured overseas dividends The Upper Tribunal has held that certain manufactured payments were overseas dividends in the hands of a UK resident company, even though paid out of share premium account, and so were deductible as management expenses. | Articles | 26-May-2011 |
| 5 | Corporation Tax: Manufactured overseas dividends: anti ... Draft legislation has been published to counteract a scheme under which taxpayers were seeking to exploit the manufactured overseas dividend rules to obtain a repayment, or set off, of income tax. | Articles | 27-Oct-2011 |
| 6 | Corporation Tax: Taxation of foreign dividends The Court of Appeal has given judgment in the franked investment income group litigation, and referred some questions back to the European Court of Justice for further guidance. | Articles | 24-Mar-2010 |
| 7 | Returning cash to shareholders: possible structures An outline of the main issues to be considered by companies when returning cash to shareholders. | Articles | 23-Mar-2005 |
| 8 | ACT | Glossary | Maintained |
| 9 | Advance corporation tax (ACT) | Glossary | Maintained |
| 10 | Classical system | Glossary | Maintained |
| 11 | Deemed foreign income dividend | Glossary | Maintained |
| 12 | Disclaimer election | Glossary | Maintained |
| 13 | Distribution | Glossary | Maintained |
| 14 | Dividend | Glossary | Maintained |
| 15 | Foreign income dividend (FID) | Glossary | Maintained |
| 16 | Franked investment income (FII) | Glossary | Maintained |
| 17 | HM Revenue & Customs (HMRC) | Glossary | Maintained |
| 18 | Imputation system | Glossary | Maintained |
| 19 | Income and Corporation Taxes Act 1988 (ICTA) | Glossary | Maintained |
| 20 | Qualifying distribution | Glossary | Maintained |
| 21 | Shadow ACT | Glossary | Maintained |
| 22 | Special dividend | Glossary | Maintained |
| 23 | Surplus ACT | Glossary | Maintained |
| 24 | Tax credit | Glossary | Maintained |
| 25 | Capital Gains Tax: Capital contributions: net assets The Special Commissioners have held that a capital contribution that increases a company's net assets does not increase the base cost of the shares unless additional shares are issued in exchange for the contribution. | Legal update: archive | 20-Apr-2007 |
| 26 | Capital gains tax: valuation of shares The Special Commissioners have determined a dispute between the Inland Revenue and a taxpayer as to the market value, as at 31 March 1982, of unquoted company shares. | Legal update: archive | 19-Aug-2004 |
| 27 | Corporate tax reform: in with the new On 21 June 2007, the Treasury and HM Revenue & Customs published a joint discussion paper entitled "Taxation of the foreign profits of companies". The long-awaited proposals in the discussion document comprise a package of reforms that, if implemented, will have an impact on most groups of companies, whether or not they have foreign profits. | Legal update: archive | 24-Jul-2007 |
| 28 | Corporation Tax: ACT: dividend tax credit The European Court of Justice has upheld the UK's right to provide a tax credit on dividends paid by UK resident companies to UK resident companies, while denying a tax credit on dividends paid by UK resident companies to non-UK resident companies. | Legal update: archive | 29-Jan-2007 |
| 29 | Corporation Tax: Compound interest The House of Lords has held that taxpayers should receive compound interest at the government borrowing rate by way of compensation due where a UK company has suffered loss under the UK's advance corporation tax regime for dividends. | Legal update: archive | 28-Aug-2007 |
| 30 | Corporation Tax: Double tax treaties non-discrimination ... The House of Lords has held that it was not a breach of the non-discrimination articles in the UK's double tax treaties with the US and Japan to deny a UK company the right to pay dividends free of UK advance corporation tax to its US or Japanese parent. | Legal update: archive | 21-Jun-2007 |
| 31 | Corporation Tax: Foreign profits: dividend exemption The Treasury has published a proposal for an exemption from corporation tax for dividends from non-UK companies. | Legal update: archive | 27-Jan-2009 |
| 32 | Corporation tax: Franked investment income The Advocate General has opined that various aspects of the UK regime for taxing dividends from non-UK resident companies are contrary to EC law. | Legal update: archive | 21-Apr-2006 |
| 33 | Corporation tax: Quantum of restitution: EC law claims The High Court has ruled on the interest payable when calculating the compensation due to a UK company that has suffered loss under the UK's advance corporation tax regime for dividends. | Legal update: archive | 22-Jul-2004 |
| 34 | Corporation Tax: Taxation of foreign dividends: UK system ... The European Court of Justice has upheld the UK's right to tax dividends received from UK resident companies differently from dividends received from non-UK resident companies. | Legal update: archive | 29-Jan-2007 |
| 35 | Corporation Tax: Withholding tax on EU dividends The European Court of Justice has held that a withholding tax imposed on dividends paid by a Finnish subsidiary to a non-resident, open-ended investment company contravened the principle of freedom of establishment under the EC Treaty. | Legal update: archive | 21-Jul-2009 |
| 36 | Income Tax: Application of settlement provisions The House of Lords has held that dividends paid to a wife from a company jointly owned by her and her husband were taxable as income of the wife, not the husband. | Legal update: archive | 28-Aug-2007 |
| 37 | Income tax: application of settlement provisions The Court of Appeal has held that dividends paid to a wife from a company jointly owned by her and her husband were not taxable as income of the husband, but were taxable as income of the wife. | Legal update: archive | 30-Jan-2006 |
| 38 | Income Tax: Application of settlement provisions The High Court has held that dividends paid to a wife from a company jointly owned by her and her husband were taxable as income of the husband. | Legal update: archive | 25-Jul-2005 |
| 39 | Income Tax: Dividend tax credits The European Court of Justice has held that the former German rules that denied a tax credit in respect of foreign dividends were in breach of the principle of free movement of capital guaranteed by the EC Treaty. | Legal update: archive | 26-Mar-2007 |
| 40 | Income tax: Enterprise investment scheme The High Court has held that payment of dividends to investors was not a 'qualifying business activity' for the purposes of enterprise investment relief. | Legal update: archive | 27-May-2004 |
| 41 | Income Tax: Ratchets: HMRC revised guidance on tax ... HM Revenue & Customs has changed its guidance on the tax treatment of certain unapproved share incentive arrangements. | Legal update: archive | 25-Sep-2006 |
| 42 | Investor reliefs The Chancellor has announced changes to the availability of reliefs for investors in venture capital trusts and under the Enterprise Investment Scheme. | Legal update: archive | 26-Mar-2004 |
| 43 | Negligible value claims The Special Commissioner has considered negligible value claims, the circumstances in which an issue of shares to a company's sole shareholder will be regarded as a "reorganisation" and when a transaction between a company and its sole shareholder will be regarded as an arms' length bargain. | Legal update: archive | 21-Oct-2004 |
| 44 | Obtaining a tax advantage The Special Commissioner has held that a tax advantage obtained on a transaction may be one of the main objects of that transaction even if there is another more important object. | Legal update: archive | 26-Aug-2008 |
| 45 | Taxation of dividends The Advocate General has issued an opinion on taxation of dividends in Finland which calls into question the legitimacy of the UK’s system of taxation of dividends. | Legal update: archive | 23-Apr-2004 |
| 46 | Taxation of foreign dividends: progress at last? The last week in November 2008 proved to be momentous for UK corporate taxpayers and their advisers. First, the government confirmed in the Pre-Budget Report that UK companies are to be given a dividend exemption for dividends from non-UK companies. This was followed by the High Court judgment in the Franked Investment Income Group Litigation case. | Legal update: archive | 27-Jan-2009 |
| 47 | Unallowable purpose test: currency contracts The High Court has held that a taxpayer was not entitled to a tax deduction for certain upfront payments made on entry into two currency contracts, on the basis that those payments were not qualifying payments as defined for the purposes of Part IV of Chapter II of the Finance Act 1994. | Legal update: archive | 26-Aug-2008 |
| 48 | Value added tax: Share issues HM Revenue & Customs has published Business Briefs clarifying the VAT treatment of share issues and input tax recovery. | Legal update: archive | 30-Jan-2006 |
| 49 | Corporation Tax: Tax provision: dividends The High Court has held that, where a company paid dividends out of profits that would not have been available had the directors made proper provision for tax, and the directors were aware that such provision should have been made, the dividends were an unlawful distribution of profits for which the directors might be personally liable. | Legal update: case report | 29-Oct-2008 |