Abolition

1 Posts
1 Sections
1 Types

August 31, 2024 4 min read Definitions

Advance Corporation Tax: Prepayment of Corporate Tax on Dividends

Finance Taxes Accounting Corporate Tax Dividends UK Tax System Prepayment Abolition

Advance Corporation Tax (ACT) was a prepayment of corporate tax that companies in the UK had to make on dividends paid to shareholders. It played a significant role in the tax regime until its abolition in 1999.

Read more about Advance Corporation Tax: Prepayment of Corporate Tax on Dividends.