A company has sold its business. The funds from the sale have been taken out by the shareholders without liquidating the company. The company charges interest on the shareholders’ overdrawn current accounts. There was no capital distribution. Is there a deemed dividend situation in this case?
Read MoreIn its final year of trading, a company issued a dividend to clear the shareholder current account overdrawn balance. The 5% RWT on dividend paid by the company will be refunded by the IRD to the shareholder who is not on the highest marginal tax rate. Can company choose not to pay the RWT?
Read More