Distributions of a Capital Nature

The Finance Act 2009 makes some fundamental changes to the UK tax treatment of dividends and other distributions for corporation tax purposes. The principal change is to align the treatment of dividends and distributions received by UK companies from other UK companies and those received from companies which are resident outside the UK. As a result many distributions will now be exempt from corporation tax on income under one of the exemptions set out in the new Corporation Tax Act 2009 ('CTA 2009') Part 9A irrespective of whether the distributing company is resident in the UK or outside...