The Court of Appeal in A Beard v HMRC [2025] EWCA Civ 385 had to interpret the meaning of ‘dividends of a capital nature’ in ITTOIA 2005 s 402(4). For income tax purposes there is a distinction between payments received from UK-resident and non-UK resident companies. UK income taxpayers are subject to income tax on any distribution (whether or not capital in nature) from a UK resident company but only on dividends not of a capital nature or other income received from a non-UK resident company.
Alexander Beard a UK tax resident shareholder argued that the distributions (in cash and in shares) he received from the share premium of...
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The Court of Appeal in A Beard v HMRC [2025] EWCA Civ 385 had to interpret the meaning of ‘dividends of a capital nature’ in ITTOIA 2005 s 402(4). For income tax purposes there is a distinction between payments received from UK-resident and non-UK resident companies. UK income taxpayers are subject to income tax on any distribution (whether or not capital in nature) from a UK resident company but only on dividends not of a capital nature or other income received from a non-UK resident company.
Alexander Beard a UK tax resident shareholder argued that the distributions (in cash and in shares) he received from the share premium of...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
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