Tax and company law consequences of unlawful distributions (‘illegal dividend’)
What is a dividend? The term ‘dividend’ is not explicitly defined in the Companies Act 2006 (“the Act”); instead the Act refers to ‘distribution’ (s.829 CA 2006) which is defined very broadly. However, dividend as a term does indeed feature in the Act in a different context in s.548, and in s.669 as also in […]
UK Company Laws
Companies’ legislation in the UK comprises both primary and secondary legislation. The primary legislation is made up of Acts of Parliament and comprises the following Acts when it comes to Companies’ legislation: Acts of Parliament Companies Act 2006 Company Directors’ Disqualification Act 1986 Partnership Act 1890 Limited Liability Partnerships Act 2000 Companies (Audit, Investigations and […]
