Distributions manual updated for UK withdrawal from EU
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.