A client may invest in a company in the UAE. Am I correct in thinking that if he owns less than 10% of the issued share capital, he is entitled to the 1/9 UK tax credit? This is appealing if he receives a dividend of £900 with the 1/9 tax credit but not so much if the £900 is treated as the gross amount with no tax credit.
Cheers
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short list of "disabled" countries for tax credit relief
You can have a larger percentage stake in a foreign company and still claim UK tax credit relief as long as the country has a double taxation agreement with the UK that includes a non-discrimination article ... those that don't, i.e. are on the disabled list, are places like Belize, Malawi, Isle of Man, Jersey, Guernsey, Grenada ... a small list that does not include any of the Gulf states apart from Brunei (assuming that my geography is correct in thinking that sounds like one of the oil-producing Gulf states) ... oh, and the company must not be an offshore fund.
in which case, yes
HI
In which case, yes, as long as the company is not an offshore fund ... I didn't check to see which countries have DTAs in force.
Regards