The Tax and Duty Manual Part
06-02-02 – Distributions – is now updated to reflect the treatment of UK
companies following
the withdrawal of the UK from the EU.
The
manual has been updated as follows:
Part
1 – Overview: an additional paragraph is included, which states UK compliance
will continue to be within the ambit of sections 130(2)(d)(iv) and 130(3) TCA 1997; and
Part
4 - Distributions in respect of securities [section 130(2)(d)]: Paragraph 12(d)
includes companies resident in the UK in circumstances where interest paid to
companies is not to be treated as a distribution per section 130(2)(d)(iv) TCA
1997.
See
eBrief
No. 023/21 for further details.
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