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Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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Are foreign dividends received treated differently in

Resolved Question:

Hi
Are foreign dividends received treated differently in the corporation tax computation to UK Dividends received and are taxable?
Thanks
Kind regards
Paul
Submitted: 1 year ago.
Category: Tax
Expert:  TonyTax replied 1 year ago.

Hi.

In general, foreign dividends received by UK companies are not taxable and no relief is given for any foreign tax credit against a UK corporation tax liability. The double tax treaty between the UK and the country from which the dividend is paid may limit the amount of foreign tax paid.

There are exceptions to the general no UK tax on foreign dividend rules which you can read about here.

I hope this helps but let me know if you have any further questions.

Customer: replied 1 year ago.

Thanks for your prompt reply but how are foreign dividends treated differently to UK dividends for corporation tax purposes and also is interest received on corporation tax from HMRC taxable?

Thanks

Paul

Expert:  TonyTax replied 1 year ago.
They aren't treated differently from UK dividends received by a UK company except in certain circumstances as described in the link I gave you which apply to large companies. The link is here.

Interest received on corporation tax repayments is taxable. Look here for confirmation.
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15886
Experience: Inc Tax, CGT, Corp Tax, IHT, VAT.
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