Q definitions
| qualifying corporate bonds | These are issued by companies when they wish to raise capital. They are loans to the company which are repayable at or between set dates. Any profit on their sale is generally tax free. |
| qualifying distributions | A company makes a qualifying distribution to its shareholders by paying a dividend or interest payment at more than the commercial rate. Tax is deducted from the payment. The sale of an asset to a shareholder for less than its market value is also a qualifying distribution. The value received is the net amount (after tax) of the qualifying distribution. |
| qualifying loans | A loan on which the interest you pay qualifies for tax relief. Only a limited number of loans qualify for tax relief, including loans for buying shares in, or lending money to, a close company, purchasing an interest in, or lending money to, a partnership, and purchasing machinery or plant for use in your employment or partnership. |
This page was last reviewed on 07 July 2004. The information may not reflect changes in legislation made after this date.
This is only a guide to your tax position and should not be relied on in place of professional accounting or tax advice. Any calculated figures are illustrative and are based on the data you provided.
