Pre-trading expenses for a rental business
There are special rules for the pre-trading expenses of a rental business. If the expenses were in relation to a letting, then a deduction may be allowed where the following
Companies eligible for Group Relief
Corporation Tax relief may be available when a company or organisation makes a trading loss. Companies that are eligible for Group Relief can transfer losses and certain other
Dealing with property income losses
Where a property business makes a loss, the loss can usually be carried forward and set against future rental business profits.
HMRC’s guidance is clear that any losses made
Corporation Tax for non-resident companies
Non-resident companies with a trading business in the UK are liable to pay UK Corporation Tax on their profits made through a permanent establishment/branch or agency.
If the
Capital expenditure for property businesses
There are different rules which apply to different types of capital expenditure for a property business. One of the main areas to consider in deciding whether a repair is a
Corporation Tax loss relief for losses carried forward
Corporation Tax relief may be available where your company or organisation makes a trading loss. The loss may be used to claim relief from Corporation Tax by offsetting the loss
Directors’ loans – tax consequences for your company
There are tax consequences for both companies and directors relating to the issue of director’s loans. We will examine below some of the implications if a company facilitates loans
Companies and trading losses
Corporation Tax relief may be available when a company or organisation makes a trading loss. The loss may be used to claim relief from Corporation Tax by offset against other gains
Corporation Tax computations
The Office of Tax Simplification (OTS) provides independent advice to the government on simplifying the UK tax system, with the object of reducing compliance burdens on both
32.5% Corporation Tax on overdrawn directors’ loans
HMRC defines a director’s loan as money taken from your company (by you or other close family members) that isn’t:
a salary, dividend or expense repayment and
money you’ve