shadow ACT

shadow ACT
The system adopted to determine the extent to which surplus ACT carried forward (post 5 April 1999) can be set off against corporation tax arising on or after 6 April 1999. Although no actual advance corporation tax (ACT) arises on distributions made after 5 April 1999, a qualifying distribution triggers "notional ACT". In determining a company's capacity to set off surplus ACT carried forward, "notional ACT" must be taken into account. This restricts the extent to which a company can set off surplus ACT against corporation tax.
Related links
dividends

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Игры ⚽ Поможем сделать НИР

Look at other dictionaries:

  • act — 1 n 1 a: something done by a person in accordance with his or her free will a tortious act see also actus reus b: the failure to do something that one has a legal duty to do – called also negative act; 2 a …   Law dictionary

  • shadow advance corporation tax — A system applying to any unrelieved surplus advance corporation tax (ACT) on 6 April 1999, when ACT was abolished. It preserved the right to carry forward surplus ACT but did not result in any reduction in the corporation tax liability for… …   Accounting dictionary

  • Shadow IT — is a term often used to describe IT systems and IT solutions built and used inside organizations without organizational approval. Shadow IT is by many considered an important source for innovation and such systems may turn out to be prototypes… …   Wikipedia

  • shadow director — Under section 741 of the Companies Act 1985, a person in accordance with whose directions or instructions the directors of the company are accustomed to act. He must do more than act in a professional capacity. Easyform Glossary of Law Terms. UK… …   Law dictionary

  • Shadow system — is a term used in Information Services for any application relied upon for business processes that is not under the jurisdiction of a centralized Information Systems department. That is, the Information Systems department did not create it, was… …   Wikipedia

  • Act Against Bullying — Act Against Bullying, also known as AAB, is a national charity in the United Kingdom founded in 2003 by Louise Burfitt Dons The purpose of the charity is to help children who are bullied at school by providing them with confidential advice and to …   Wikipedia

  • Shadow Galactica — Sailor Moon villain group Members of Shadow Galactica. Left column: Sailor Lethe, Sailor Mnemosyne, Sailor Phi, Sailor Chi. Center column: Galaxia in her civilian and senshi forms. Right column: Sailor Iron Mouse, Sailor Aluminum Siren, Sailor… …   Wikipedia

  • Shadow Cabinet of Australia — The Shadow Cabinet of Australia is a group of senior Opposition spokespeople who form an alternative Cabinet to the government s, whose members shadow or mark each individual Minister or portfolio of the Government. The opposition front bench… …   Wikipedia

  • Shadow play — For hand shadows, see Shadowgraphy (performing art). For other uses, see Shadow Play (disambiguation). Chinese shadow theatre figures Shadow play (Chinese: 皮影戏, pí yĭng xì) or shadow puppetry Shadow puppets have a long history in China, India,… …   Wikipedia

  • Shadow of the Colossus — Infobox VG title = Shadow of the Colossus caption = The Shadow of the Colossus cover emphasizes the massive size of the colossus compared to the protagonist. developer = Team Ico publisher = Sony Computer Entertainment designer = Fumito Ueda… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”