The Corporation Tax (Treatment of Unrelieved Surplus Advance Corporation Tax) (Amendment) Regulations, SI 2013/157, amend SI 1999/358, the purpose of which is to ensure that companies can obtain relief for ACT accrued before ACT was abolished. Their effect is that ‘shadow ACT’ need not be taken into account where a distribution is made to a parent company resident in an EEA member state.
The Corporation Tax (Treatment of Unrelieved Surplus Advance Corporation Tax) (Amendment) Regulations, SI 2013/157, amend SI 1999/358, the purpose of which is to ensure that companies can obtain relief for ACT accrued before ACT was abolished. Their effect is that ‘shadow ACT’ need not be taken into account where a distribution is made to a parent company resident in an EEA member state.
