Tax relief for R&D intensive SMEs
In the Autumn Statement it was announced that the existing R&D Expenditure Credit and Small and Medium Enterprise Scheme will be merged from April 2024. It
Corporation Tax marginal rate
The Corporation Tax main rate for companies with profits in excess of £250,000 increased to 25% on 1 April 2023. A Small Profits Rate (SPR)
What is a business repair?
HMRC’s internal manuals provide some useful information on the definition of a business repair. This is important because it is required to identify the asset
Company tax return obligations
After the end of its financial year, a private limited company must prepare full annual accounts and a company tax return. In most cases a
Accounting periods for Corporation Tax
Companies often have two different company accounting periods. This is because there are different rules for Companies House filings and for returns sent to HMRC. The
Utilising Capital Gains Tax losses
Usually, if you sell an asset for less than you paid for it you would make a capital loss. As a general rule, if the
No gain – no loss transfers in groups of companies
There are special rules concerning the transfer of assets in groups of companies. In most cases, this means that where assets are moved around group
Corporation Tax Group Payment Arrangements
A Corporation Tax Group Payment Arrangement (GPA) is a special arrangement that allows groups of companies to make joint payments of Corporation Tax. This type
Carrying company losses back
Corporation Tax relief may be available where your company or organisation makes a trading loss. A qualifying trading loss may be used to claim relief