Advance Corporation Tax - ACT
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Definition of 'Advance Corporation Tax - ACT'
The prepayment of corporate taxes by companies in the United Kingdom that distributed dividend payments to shareholders. The tax, which was introduced in 1973, was abolished in 1999 by then Prime Minister Gordon Brown; however, a 10% tax relief on didvidend income remained.
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Investopedia explains 'Advance Corporation Tax - ACT'
The advance corporation tax was paid before a company’s main corporation taxes, when dividend payments were made to shareholders. The amount paid in ACT was deducted from the main corporation taxes. A company’s ACT payments meant that those receiving dividends had already paid a basic rate tax on any dividend income. For the company, the amount paid in ACT could be factored in its profit and loss statements, thereby potentially reducing its corporate tax burden.
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Search results for 'Advance Corporation Tax (ACT)'
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http://www.investopedia.com/exam-guide/series-7/securities-markets/securities-exchange-act-1934.asp
... This information, contained in proxy materials, must be filed with the SEC in advance
of any solicitation of votes. The act also requires disclosure of ...
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http://www.investopedia.com/exam-guide/series-7/municipal-securities/special-munis.asp
... SIPC); 9.15 The Federal Deposit Insurance Corporation (FDIC); 9.16 ... by a special tax,
such as a gasoline tax. ... Advance-refunding: A structure under which new bonds ...
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http://www.investopedia.com/exam-guide/series-7/portfolio-management/securities-analysis.asp
... Index Options; 8.16 Other Options; 8.17 Tax Treatment of ... 9.15 The Federal Deposit
Insurance Corporation (FDIC); 9.16 ... Advance-Decline Index: One measure of market ...
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http://www.investopedia.com/exam-guide/series-7/securities-markets/primary-bond-market.asp
... known as the trust indenture, conforms to the standards of the 1939 act. ... This statement
will include details, if applicable, of advance refunding, a refunding ...
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http://www.investopedia.com/exam-guide/series-7/derivatives/options.asp
... Index Options; 8.16 Other Options; 8.17 Tax Treatment of ... Disclosure Document The
Options Clearing Corporation (OCC) publishes a ... if you did so in advance of the ...
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http://www.investopedia.com/articles/financialcareers/08/accounting.asp
... with the traditional areas of tax, audit and ... creditors (such as a corporation's
shareholders) are ... as junior accountants and eventually advance with experience. ...
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