Taxation of Capital Distribut

RNS Number : 9009T

Investors Capital Trust PLC

05 October 2010

 



To:                   RNS

From:               Investors Capital Trust plc (the 'Company')

Date:                5 October 2010

B Shares - Taxation of capital distributions

The Company made an announcement on 3 September 2010 regarding proposed legislative changes which could affect the taxation of capital distributions on the B shares. The Company has been advised that the Finance Bill published last week is drafted so that the proposed changes do not apply for income tax purposes. Accordingly, assuming the legislation is enacted in its current form, distributions on the B shares will continue to constitute capital receipts (taxed under UK capital gains tax rules) for non-corporate holders (including individuals). For corporate holders, distributions on the B shares will constitute dividends (which for most corporates are exempt from tax). This represents a favourable outcome for B shareholders in general.

Enquiries:

Rodger McNair, Investment Manager        Tel [phone]

Michael Campbell, Company Secretary    Tel [phone]

 

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