Corporation Tax

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

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

Corporation Tax

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

Corporation Tax

Non-UK resident property companies to be charged Corporation Tax

The government is to move forward with plans to charge Corporation Tax to non-UK resident companies with property income. Currently, these companies are chargeable to Income Tax

Corporation Tax

Companies and capital gains

Capital Gains Tax (CGT) is not payable by limited companies or unincorporated associations when they sell an asset and make a gain. Instead, the gain (proceeds less any allowable

Corporation Tax

Liability of non-resident companies

Under the current rules 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

Corporation Tax

Advance assurance for R&D tax claims

Advance Assurance for small companies that claim Research and Development (R&D) tax relief was introduced in November 2015. This measure makes it easier for small businesses