Where a company which had ceased trading and fallen outside the tax regime, subsequently declared a dividend, it was deemed to be a new accounting period, and the dividend did fall to be taxed, and any advance corporation tax could be set off against any corporation tax payments made whilst previously trading.Lord Hoffmann said: ‘I … Continue reading Walker (Her Majesty’s Inspector of Taxes) v Centaur Clothes Group Limited: HL 16 Mar 2000