Advanced Corporation Tax


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Advanced Corporation Tax

In the United Kingdom, the tax on a dividend that a corporation pays before distributing the dividend to shareholders. That is, the corporation pre-pays the advanced corporation tax so the shareholder does not have to do so when it comes time to pay his/her other taxes. The tax reduces the corporate tax the company must pay on its profits. It was introduced in 1973.
References in periodicals archive ?
The principal causes of this reduction were losses from Video Distribution and Precision Industries, reduced exceptional profit, initial financing costs for Universal Studios Florida and a write-off of Advanced Corporation Tax, and the acquisition of Mecca including borrowings in 1990.
Someone relying on equity dividends will suffer a reduced return because of falling advanced corporation tax credits on dividend income, even if held in a Pep or Isa.
Ministers got themselves into this mess when they abolished Advanced Corporation Tax (ACT).
British Land said higher Stamp Duty on property deals and changes to Advanced Corporation Tax were an "insidious double increase".
Small businesses will also gain a degree of confidence from the Chancellor's announcement that he did not plan to increase some taxes - such as rates of Advanced Corporation Tax - for the lifetime of Parliament.
She said changes in advanced corporation tax and corporation tax were all welcome as well as the increase in capital allowances for investment and the announcement of a new venture capital fund to lend to hi-tech companies through the universities.

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