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Advance Corporation Tax

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Advance Corporation Tax
In the United Kingdom, a former withholding tax made on dividends. That is, corporations were required to pay the advance corporation tax on dividends before they were paid to shareholders so that the shareholders themselves were not responsible for paying any taxes. Dividends paid to pensions or some other tax-exempt investment vehicles may have had the advance corporation tax refunded later. The tax was rescinded in 1999.
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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.
Bill Gleeson: Transparency is what we need by Daily Post (Liverpool, England)
Similarly, the abolition of Advance Corporation Tax ( one of the first actions of the Labour Government in 1997 ( sent share prices nose-diving.
Brian Tora column by The Journal (Newcastle, England)
This decided that it was unlawful for the Inland Revenue to impose advance corporation tax on dividends paid by UK companies to parent companies based elsewhere in Europe.
BUSINESS life: Taxman may have to return pounds 1billion in ... by Coventry Evening Telegraph (England)
 
 
 
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