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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 within the charge to Corporation Tax. The consultation is open for comment until 5 March 2021. The regi... Read More

Now is usually the time that businesses are planning Christmas parties for staff as well as possibly for partners/spouses, clients and prospective clients. Of course, with the continued pandemic and various lockdowns Christmas is looking pretty much... Read More

Corporation Tax relief may be available where a company or organisation makes a trading loss. The loss may be used to claim relief from Corporation Tax by offsetting the loss against other gains or profits of the business in the same or previous acco... Read More

A wide variety of grants or subsidies are available to businesses and can be received in addition to their ordinary business income. It is important to identify these contributions and to establish whether they are capital or revenue in nature. Fund... Read More

HMRC has published official statistics on the number of companies claiming tax relief under the UK Patent Box. The Patent Box allows qualifying companies to apply a lower 10% Corporation Tax rate on profits arising from patent exploitation. The benef... Read More

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 against other gains or profits of the business in the same accounting pe... Read More

For companies with taxable profits of up to £1.5 million the payment of any Corporation Tax is due 9 months and 1 day after the end of your accounting period. The accounting period is usually the financial year of your business but can be diffe... Read More

A wide variety of grants or subsidies are available to businesses and can be received in addition to the ordinary business income. It is important to identify these and to establish whether they are capital or revenue in nature so that they are dealt... Read More

Corporation Tax relief may be available where a company or organisation makes a trading loss. The loss may be used to claim relief from Corporation Tax by offsetting the loss against other gains or profits of the business in the same or accounti... Read More

Following an announcement at Autumn Statement 2016, and subsequent consultations, the government moved forward with plans to charge Corporation Tax to non-UK resident companies with property income. Currently, these companies are chargeable to Income... Read More

Where employees are provided with fuel for their own private use by their employers, the car fuel benefit charge is applied. The fuel benefit charge is determined by reference to the CO2 rating of the car, applied to a fixed amount. HMRC has confirme... Read More

It has been confirmed by the Chancellor that the Research and Development Expenditure Credit (RDEC) is to be increased from 12% to 13% on 1 April 2020. The RDEC allows companies to claim an enhanced Corporation Tax deduction or payable credit on qual... Read More