Profits Tax – Gross relevant distributions – Principal and subsidiary companies – Grouping notice followed by division of subsidiary’s accounting period into two chargeable accounting periods by reference to date of entry into group – Dividend declared for second period – Whether apportionable over whole accounting period – Whether retrospective division valid – Finance Act, 1937 (1 Edw. V III and 1 Geo. V I, c. 54), Section 22 ; Finance Act, 1947 (10 and 11 Geo. V I, c. 35), Sections 35(1), 37 and 38.
[1964] UKHL TC – 41 – 598
Bailii
Finance Act 1937
England and Wales
Corporation Tax
Updated: 09 January 2022; Ref: scu.559263