FTTTx CORPORATION TAX – double taxation relief – dividends paid between related companies: relief for UK and underlying taxes – ‘rate-boosting’ – Australian subsidiary of claimant company held all shares in UK unlimited company – Australian subsidiary subscribed for further shares in unlimited company – cancellation of those further shares and reduction of capital by unlimited company – subscription monies relating to cancelled shares credited to reserves – reserves represented by subscription monies released by way of ‘interim dividend’ to Australian Company – no UK tax borne on reserves out of which ‘interim dividend’ was paid – whether section 801(4B) of ICTA 1988 applied to increase underlying tax available for credit in hands of claimant company – no – appeal dismissed
[2013] UKFTT 322 (TC)
Bailii
England and Wales
Corporation Tax
Updated: 17 November 2021; Ref: scu.513458
