Corporation Tax loss buying
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Under qualifying circumstances, Corporation Tax (CT) relief is available where a company makes a trading loss. The trading loss can be used to...
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Goodwill and Corporation Tax
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Goodwill is rarely mentioned in legislation. Most people would settle on a simple definition which would be based on the ‘extra’ value of a...
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When is a company dormant for tax purposes?
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If a company has stopped trading and has no other income then the company is usually classed as dormant for Corporation Tax purposes. A company is...
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Associated company rules
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As announced in the Budget earlier this year there will be two rates of Corporation Tax from 1 April 2023. When the new rules take effect, taxable...
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Pre-trading expenditure
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There are special tax reliefs for pre-trading expenses that are incurred before a business starts trading. These could include expenses that are...
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Restarting a dormant or non-trading company
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HMRC must be informed when a non-trading or dormant company starts trading again and becomes active for Corporation Tax. Companies can use HMRC...
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Companies can claim super-deduction from 1 April
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The new super-deduction tax break, that will allow companies to deduct 130% of the cost of any qualifying investment from their taxable profits...
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Spring Budget 2021 – Corporation Tax
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The Chancellor confirmed that the Corporation Tax main rate will remain at 19% from 1 April 2021 for the next 2 years. The main rate had been...
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Accounts and tax for companies
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If you have recently setup a new limited company or are thinking of doing so then one of the areas that you need to be aware is the accounts and...
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Carry a company trading loss back to previous years
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Corporation Tax relief may be available where your company or organisation makes a trading loss. A qualifying trading loss may be used to claim...
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R&D tax relief for SMEs
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There are two schemes for claiming R&D tax relief – the Small or Medium-sized Enterprise (SME) Scheme and the R&D Expenditure Credit...
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MTD for Corporation Tax consultation
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HMRC has issued a new consultation to examine how the principles established for Making Tax Digital (MTD) could be implemented for those entities...
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