Tax on dividends from wholly own foreign subsidiary
This is my first post, and I should say from the off that I am a new director and pretty inexperienced with accounting in general so please excuse my ignorance/stupid questions.
I am a director of a British Company which wholly owns a Tanzanian subsidiary (where I am currently resident and also a diector of). The TZ company owns two further companies which are operating over here. I am currently raising investment into my UK company to send down to the TZ daughter company which is then investing it into the granddaughter companies.
These granddaughter companies will be sold in say a year’s time generating a profit (hopefully) for the TZ company. I want to transfer most of that cash back out to my UK holdings company after the sale. I will have to pay tax in Tanzania on the profit (not sure how much yet, any help there would be appreciated, but perhaps a bit niche!) but I want to know how much and what sort of tax I will pay in the UK on this.
I hope that makes sense and I would really appreciate any assistance.
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