Business, Legal & Accounting Glossary
Companies pay their dividends net of this tax. Some institutions, charities and tax-free PEPs are able to reclaim the tax. However, Chancellor Gordon Brown abolished the payment of tax credits for pension schemes and other companies with immediate effect in his first budget on July 2nd, 1997. This unwelcome move left only PEP -holders and charities benefiting from the return of tax credits.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
Definitions for Advance Corporation Tax are sourced/syndicated and enhanced from:
This glossary post was last updated: 15th February, 2020 | 2 Views.