Some UK companies found a new way to dodge the new 50% tax, imposed on April 6 this year. According to the new data from Capita Registrars, some 41 companies brought forward their dividend payments in order to avoid their shareholders being penalized by the new tax rate.

The data from Capita Registrars, a research group, revealed that 41 British companies brought forward more than £840 million in dividend payments this year. The Government increased the income tax rates for incomes in excess of £150000 to 50% from 40% earlier and the deadline for imposing this new tax rate was April 6 2010. According to the reports, the UK Treasury is expected to lose the tax revenue of as much as £85 million by this move of the companies.

Capita Registrars said that large companies were reported more likely to bring forward their staff's bonus payments to avoid the new increased tax and smaller companies decided to bring forward their dividend payments.

"Some smaller stocks may have brought forward their dividend payments to the 2009/10 tax year deliberately to beat the 50% top rate," said Paul Taylor, head of dividends at Capita Registrars.

According to the data of Capita Registrars, the total dividend payments by the UK companies in the first quarter of the year 2010 were reported of £13.6 billion, decreasing by 2.5% comparing to the same period last year. Capita Registrars also said that it is now degrading its full year forecast for UK dividends to £59.2 billion for the year 2010.