Taxation of double cab pick-ups
The tax treatment of double cab pick-up vehicles (DCPUs) has been clarified as part of the recent Budget announcements. This follows a chequered history of the tax treatment of
Relief for company tax losses
Corporation Tax relief may be available when a company or organisation incurs a trading loss, a loss on the sale or disposal of a capital asset, or on property income. Tax relief
Carry forward a company trading loss
There are a significant number of reliefs available to businesses that suffer losses. Certain losses that your company has not used in any other way can be carried forwards against
No change to Corporation Tax rates?
The Corporation Tax Main Rate applies to companies with profits exceeding £250,000 and is currently set at 25%. For companies with profits up to £50,000, a Small Profit Rate (SPR)
Corporate claims for charitable donations
When a limited company makes charitable donations specific rules apply. These may include Corporation Tax relief for donations to registered charities or community amateur sports
Tax relief for goodwill purchases
Goodwill is a concept frequently discussed, and yet it is seldom addressed in legislation. Typically, it is defined as the additional value of a business beyond its tangible
The marginal rate of Corporation Tax
The Corporation Tax Main Rate applies to companies with profits in excess of £250,000. The applicable rate is currently 25%. A Small Profit Rate (SPR) of 19% applies to companies
Company filing obligations
It is important that anyone responsible for the accounts and tax filing regime for private limited companies is aware of their obligations.
After the end of its financial year, a
Claim full expensing or 50% FYA
Full expensing allows for a 100% first-year capital allowance for qualifying plant and machinery assets and came into effect last April. To qualify for full expensing, expenditure
Post cessation transactions
Tax relief may be available for post-cessation expenses of a trade. To be an allowable post-cessation expense the trade must have ceased and the expense must have been deductible