Shadow/Surplus ACT | AccountingWEB

Shadow/Surplus ACT

Co has y/e 31.8.05 with PCTCT of £132,531. Pays divis in year of £160,075. Co also has unrelieved surplus ACT from pre-99 dividends of £5,884.

I know that for purposes of calculating whether surplus ACT of £5,884 can be offset against 31.8.05, one has to look at the "shadow ACT" on the divis paid in the year. However, how is the shadow ACT calculated? Is it 20/80 of £160,075 (divis actually paid), or 20/80 of £132,531 (because divis for NCD purposes are £132,531, with £27,544 being excess NCDs c/f)?

Timothy Burden

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