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franked investment income

noun
  1. (formerly) dividends from one UK company received by another on which the paying company had paid corporation tax so that the receiving company had no corporation tax to pay: discontinued from 1999
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Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012