The FID scheme was abolished with effect from 6 April 1999. FIDs were introduced by the Finance Act 1994 to provide some relief for UK resident companies with substantial earnings overseas. Since such earnings would frequently bear little further corporation tax because of credits for foreign tax suffered on the income, such companies frequently found that they could not recover advance corporation tax (ACT) because they had an insufficient liability to mainstream corporation tax. Under the FID legislation, companies could elect by notice to HM Revenue & Customs on or before payment of the dividend, that the dividend should be treated as a FID. The company paid ACT in the normal way but, broadly, was able to reclaim the ACT if it was surplus because of foreign tax on profits. FIDs did not carry a repayable tax credit for shareholders.
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • fid — fid·dle·dee·dee; fid·dler; fid·dley; fid·get·er; fid·get·i·ness; fid·get·ing·ly; fid·gety; fid; fid·ia; fid·i·bus; mul·ti·fid; palmat·i·fid; per·fid·i·ous; per·fid·i·ous·ly; per·fid·i·ous·ness; pin·nat·i·fid; quad·ri·fid; soli·fid·i·an;… …   English syllables

  • Fid — Fid, n. [Prov. E. fid a small, thick lump.] 1. (Naut.) A square bar of wood or iron, used to support the topmast, being passed through a hole or mortise at its heel, and resting on the trestle trees. [1913 Webster] 2. A wooden or metal bar or pin …   The Collaborative International Dictionary of English

  • fid — –FID Element secund de compunere savantă cu semnificaţia despicat . [< fr. fide, cf. lat. fidus < findere – a despica]. Trimis de LauraGellner, 13.06.2006. Sursa: DN  FÍD elem. despicat , împărţit . (< fr. fide, cf. lat. fidus) Trimis… …   Dicționar Român

  • -fid — [fid] [L fidus, split < base of findere: see FISSION] combining form split or separated into (a specified number or kind of) parts [palmatifid] …   English World dictionary

  • fid — [fid] n. [Early ModE naut. term < ?] 1. a round, pointed wooden tool for separating the strands of a rope in splicing 2. a square wooden or metal bar for supporting a topmast …   English World dictionary

  • Fid — (Seew.), Kegel von hartem Holz um die Duchten eines Taues zu trennen, s. Spließhorn …   Pierer's Universal-Lexikon

  • Fid — Fid, Holzkegel zum Aufweiten von Taukränzen und Augsplissungen …   Meyers Großes Konversations-Lexikon

  • fid — /fid/, n. Naut. 1. a stout bar of wood or metal placed across a lower spar so as to support a higher one. 2. a stout bar used to hold a running bowsprit in its extended position. 3. a wooden or metal pin for parting strands of a rope. 4. a bar or …   Universalium

  • fid us — index confidential, faithful (diligent), loyal, safe, staunch, true (authentic) Burton s Legal Thesaurus …   Law dictionary

  • FID — [Abk. für Flammenionisationsdetektor]: ein ↑ Detektor für die Gaschromatographie …   Universal-Lexikon

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