Update on the tax status of Double Cab Pick Ups

HMRC had published an update, on 12 February 2024, on the tax status of Double Cab Pick Ups (DCPUs), following a 2020 Court of Appeal judgment. The update announced that effective from 1 July 2024,

Exempt company purchase of own shares

Most payments a company makes to its shareholders, in respect of their shares, will be qualifying distributions (usually described as dividends) and may be subject to Income Tax.

If certain

Company share buy-backs

Company share buy-backs are also commonly known as a company purchase of own shares. A company may decide to buy back their shares for a number of reasons including to return cash to shareholders or