ICAEW.com works better with JavaScript enabled.

Corporation tax

Expert commentary and practical guidance from ICAEW on corporation tax within the UK tax regime.

Contents
Back to top
Man on campus
Meeting with laptops
Employees at a casually dressed meeting
Exclusive

TAXguide 02/23: Associated companies

The reintroduction of two rates of corporation tax from 1 April 2023 means that the associated company rules now apply. This TAXguide provides a high-level guide to the associated company rules.
Read more
Exclusive

Research and Development tax relief changes

This webinar will provide a practical overview of the changes to Research and Development tax relief regime in the UK, and what that might mean for you or your clients.
Find out more
Exclusive

What is happening in the world of R&D relief?

On 23rd March 2023, we invited author, tax advice specialist and ICAEW member David O’Keeffe to take us through an exploration of the current developments in R&D relief following the recent budget announcement. Check out the webinar and a summary of key information shared during the live broadcast.
View

Features and articles

Exclusive Getting it wrong: why off-payroll working offset is needed
  • Article
  • 01 Sep 2023
Lindsey Wicks explains the current inequalities when a client makes an incorrect status determination and what the government plans to do to redress the balance.
Exclusive Buying commercial property from non-taxpayers
  • Article
  • 01 Sep 2023
Bryan Crawford considers the capital allowances actions that advisers should be taking when advising non-taxpaying sellers or buyers of commercial property.
HMRC disclosure facility for non-resident landlords
  • Article
  • 16 Aug 2023
Letters are being sent during August to companies resident outside the UK that HMRC’s records show hold UK commercial property and have not registered for income tax or corporation tax in relation to these properties.
Corporation Tax — amendments to the Real Estate Investment Trust (REIT) regime
  • Article
  • 01 Aug 2023
Real Estate Investment Trusts (REITS): The government is publishing draft legislation to make further improvements to the operation of the tax rules for Real Estate Investment Trusts. As well as engaging on the detail of these provisions, the government will continue to consider the case for other reform options.
Have your say: HMRC consultation on employee ownership trusts and employee benefit trusts
  • Article
  • 01 Aug 2023
Reforms to the tax treatment of EOTs and EBTs proposed in the paper are intended to focus the rules more effectively on the policy objectives of rewarding employees and encouraging more employee engagement. Another objective is to prevent tax advantages being obtained through the use of these trusts outside their intended purposes.
A critical moment for trust in business
  • Article
  • 03 Jul 2023
Business currently enjoys more trust than government, but the public remains anxious over corporate tax behaviour. What must change for business to fully deliver its part of the national bargain?
Tax and tax alike: postcards from abroad
  • Article
  • 03 Jul 2023
The UK’s national tax burden is on the up and people’s expectations of fiscal policy are shifting. We tour the globe to discover how the UK’s taxes compare internationally.
UK international tax legislation to be reformed
  • Article
  • 29 Jun 2023
The UK government is seeking views on reforming the UK rules on transfer pricing, permanent establishments, and diverted profits tax.
See more

Practical guidance

ICAEW's Tax Faculty provides practical support on technical areas of tax.
Exclusive TAXguide 03/23: R&D tax relief for accounting periods spanning 1 April 2023
  • Technical release
  • 09 May 2023
The rates of research and development (R&D) tax relief have changed for expenditure incurred on or after 1 April 2023. In addition, the change in corporation tax rates from the same date means that the results for periods spanning 1 April 2023 must be time apportioned. This TAXguide uses examples to demonstrate the interaction of these changes.
Exclusive TAXguide 02/23: Associated companies
  • Technical release
  • 05 May 2023
The reintroduction of two rates of corporation tax from 1 April 2023 means that the associated company rules now apply. This TAXguide provides a high-level guide to the associated company rules.
Exclusive TAXguide 09/21: Brexit – The corporate tax implications
  • Technical release
  • 15 Apr 2021
This TAXguide analyses the corporate tax impact of Brexit on the typical cycle of outbound and inbound business operations within the UK and the EU as from 1 January 2021. It analyses them from the viewpoint of both the UK and the member states of the EU.
TAXguide 19/20: Intangible fixed assets and corporation tax deductibility
  • Technical release
  • 18 Dec 2020
This TAXguide, written by Andrew Tall, explains the different ways that a revenue deduction can be claimed for ‘typical’ intangible fixed assets (ITFA) used by a company in a taxable business, as introduced in Finance Act 2002 under Chs 3 and 15, Pt 8, Corporation Tax Act 2009 (CTA 2009), and subsequently amended.
TAXguide: 06/20 Spring Budget 2020
  • Technical release
  • 12 Mar 2020
Rishi Sunak delivered his first Budget of 2020 on 11 March. The Tax Faculty provides its summary of all the key tax announcements in this TAXguide.
See all TAXguides

Research & Development tax relief

ICAEW responds to draft Finance Bill 2023-24 provisions
  • Article
  • 20 Sep 2023
The Tax Faculty provided input on measures relating to the proposed merged R&D tax credit scheme, tougher measures for promoters of tax avoidance, changes to data HMRC collects from customers and abolishing the pensions lifetime allowance.
HMRC reminds companies to submit R&D additional information forms
  • Article
  • 06 Sep 2023
Since 8 August 2023, claims for research and development tax relief require completion of an additional information form (AIF). However, almost half of all claims received by HMRC between 8 August and 3 September have not included the form.
ICAEW technical round-up: August 2023
  • Article
  • 31 Aug 2023
This month’s top stories include HMRC’s extension to the trial for responding to old post; draft legislation released which prompts taxpayers to provide more information to HMRC; and the latest figures on HMRC caller waiting times.
HMRC guidance on handling R&D tax relief claims
  • Article
  • 15 Aug 2023
New guidance in HMRC’s corporate intangibles research and development (CIRD) manual focuses on procedures for companies with customer relationship managers but includes some points of wider interest that would also apply to smaller companies.
Additional tax reliefs for research and development (R&D) intensive small and medium-sized enterprises and potential merged R&D scheme
  • Article
  • 01 Aug 2023
This measure is about additional tax relief for Research and Development (R&D) intensive small and medium-sized enterprises and a potential merged R&D scheme.
Features of a merged R&D tax relief scheme
  • Article
  • 01 Aug 2023
On 18 July, this year’s Legislation or ‘L’-Day’, the government published draft legislation setting out the design for a merged research and development (R&D) tax relief scheme. However, no decision has been taken to introduce a merged scheme.
Enforcement of new R&D requirements deferred until 8 August 2023
  • Article
  • 26 Jul 2023
New claim notification and additional information requirements will not be enforced until 8 August 2023. These rules were expected to apply from 1 August 2023, but due to delays in Finance Bill timetabling they will now take effect one week later.
Legislation Day 2023: R&D, pensions and some unexpected announcements
  • Article
  • 18 Jul 2023
While a lot of the material published on 18 July was expected, there were some surprise announcements including planned administrative changes to the high income child benefit charge.
View all

Webinars and recordings

Exclusive Research and Development tax relief changes
  • Webinar
  • 20 Apr 2023
This webinar will provide a practical overview of the changes to Research and Development tax relief regime in the UK, and what that might mean for you or your clients.
ChatGPT, corporation tax and FRED 82
  • Podcast
  • 05 Apr 2023
On the latest ICAEW Insights podcast, we examine how recent developments are affecting the accountancy profession.
Exclusive What is happening in the world of R&D relief?
  • Webinar
  • 28 Mar 2023
On 23rd March 2023, we invited author, tax advice specialist and ICAEW member David O’Keeffe to take us through an exploration of the current developments in R&D relief following the recent budget announcement. Check out the webinar and a summary of key information shared during the live broadcast.
Patent Box
  • Webinar
  • 26 Aug 2021
Are you prepared for the future of patent box relief? Find out about the changes for claims made from 1 July 2021.
View all webinars and recordings

Bloomsbury Accounting and Tax Service

Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising more than 60 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Accounting and Tax Service.

Exclusive Bloomsbury Professional Tax Guide 2022/23
  • eBook
  • 01 Jan 2022
Comprehensive practical guide on the full range of UK taxes, containing worked examples throughout.
Exclusive Capital allowances (plant and machinery)
  • eBook chapter
  • 01 Feb 2023
Expert commentary on the current UK corporation tax legislation on capital allowances for plant and machinery.
Exclusive Corporate tax reliefs for intellectual property
  • eBook chapter
  • 01 Dec 2022
A chapter on corporate tax reliefs for intellectual property, highlighting tax planning opportunities and potential pitfalls.
Exclusive Corporation tax 2023/24
  • eBook
  • 01 Aug 2023
Annual guide examining the rules, regulations and tax issues affecting companies in the UK. The 2023/24 edition examines current legislation, changes to HMRC guidance and key developments.
Exclusive Creative sector tax reliefs
  • eBook chapter
  • 01 Feb 2023
Practical guidance on creative sector tax reliefs for film, TV, video games, theatre, orchestra, museums and galleries.
Exclusive Expanding the company's activities and structuring business acquisitions
  • eBook chapter
  • 01 Jul 2023
Advice on making a business acquisition, written for anyone who advises or runs a family or owner-managed company.
Exclusive India - Corporate taxes
  • eBook chapter
  • 01 May 2023
Information on the taxation of companies in India, updated by two issues annually.
Exclusive Making tax digital tracker
  • eBook
  • 01 Mar 2022
The Tracker provides plain English guidance on the operation of MTD, with sections covering VAT, income tax, corporation tax and tax agents in relation to MTD. 
Terms of use

You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the Acceptable usage terms.

See all Bloomsbury eBooks on Corporation Tax

eBooks

The Library & Information Service provides a collection of eBooks as a benefit of membership. Please log in to access these titles. If you are unable to access an eBook, please see our Help and support or contact library@icaew.com.

Exclusive Global corporate tax handbook 2023
  • eBook
  • 01 Jun 2023
Surveys 101 different tax systems from around the world.
Exclusive Taxation of small businesses, 2022/23
  • eBook
  • 01 Jul 2022
A one-volume guide to direct taxation of a small business.
Exclusive Dividends received
  • eBook chapter
  • 09 Aug 2021
Outlines the provisions which exempt UK dividends from taxation under the Corporation Tax Act 2009.
Exclusive Chargeable gains
  • eBook chapter
  • 09 Aug 2021
Covers chargeable gains for corporation tax purposes, with additional sections on dividends received, payments to charities, distributions, computation of tax liability, losses, groups, and the way corporation tax relates to income tax.
Exclusive Loan relationships
  • eBook chapter
  • 09 Aug 2021
An overview of loan relationships and corporation tax, with sections on the definition of these relationships, the scope of the rules, accounting for loan relationships and the basis of taxation.
Exclusive Trading income
  • eBook chapter
  • 09 Aug 2021
Explains how corporation tax applies to trading income and the ways in which it differs from income taxation. Covers the annual investment allowance, first-year tax credits and capital allowances for plant and machinery.
Exclusive Computation of tax liability
  • eBook chapter
  • 09 Aug 2021
Summarises how corporation tax should be calculated in a given tax year, with notes on the current rates and a simple example.
Exclusive Chargeable accounting periods
  • eBook chapter
  • 09 Aug 2021
The chargeable accounting period (CAP) for corporation tax usually coincides with a company's accounting period. This section outlines the alternatives available and how income is allocated within periods for tax purposes.
Terms of use

You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

View all of our eBooks on tax

Representations

ICAEW REP 095-23 R&D Tax reliefs reform
  • Representation
  • 14 Sep 2023
  • PDF (168kb)
A representation dated 14 September 2023 to a consultation published by HMRC on 18 July 2023.
ICAEW REP 074-23 Reform of transfer pricing, permanent establishment and diverted profits tax
  • Representation
  • 14 Aug 2023
  • PDF (165kb)
A representation dated 11 August 2023 to a consultation published by HM Treasury on 19 June 2023.
ICAEW REP 017-23 R&D tax reliefs review
  • Representation
  • 07 Mar 2023
  • PDF (169kb)
A representation dated 3 March 2023 to a consultation published by the government in January 2023.
ICAEW REP 009-23 RD tax relief changes guidance from 1 April 2023
  • Representation
  • 17 Feb 2023
  • PDF (209kb)
A comment dated 6 February 2023 to guidance published by HMRC on 20 December 2022.
ICAEW REP 011-23 AV Tax Reliefs
  • Representation
  • 08 Feb 2023
  • PDF (160kb)
A response dated 8 February 2023 to a consultation published by the government in November 2022.
ICAEW REP 094-22 House of Lords Economic Affairs Committee Finance Bill Sub Committee enquiry into Finance Bill 2022-23
  • Representation
  • 17 Nov 2022
  • PDF (295kb)
ICAEW’s Tax Faculty provided both oral and written evidence to the House of Lords Economic Affairs Committee Finance Bill Subcommittee on proposed changes to the R&D tax relief regime.
ICAEW REP 091-22 Hybrid and distance working OTS review
  • Representation
  • 31 Oct 2022
  • PDF (400kb)
A response dated 28 October 2022 to a review published by the Office of Tax Simplification on 31 August 2022.
ICAEW REP 085-22 Improving the data HMRC collects from its customers
  • Representation
  • 12 Oct 2022
  • PDF (347kb)
A response dated 12 October 2022 to a consultation published by HMRC on 20 July 2022.

Useful links

Some resources that we link to may pre-date the latest amendments to the relevant tax regulations. While these links contain useful information, please treat them with appropriate caution.
Corporation Tax: detailed information on GOV.UK
  • Website
  • 13 Mar 2018
Official guidance on corporation tax for limited companies, including preparing accounts, working out corporation tax, reliefs available, filing returns, payments and refunds.
Corporation Tax: HMRC manuals
  • Website
  • 13 Mar 2018
HMRC internal manuals providing guidance on corporation tax relating to a wide range of business sectors and reliefs.
Corporation Tax topic on GOV.UK
  • Website
  • 19 Jun 2023
A hub page providing links to various materials and facilities relating to corporation tax, including services, guidance and regulations, news and communications, research and statistics, policy papers, and consultations.

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.

Further resources

Helpline
Markel logo
ICAEW Tax and VAT Helpline

ICAEW tax and VAT helpline is a subscription based service provided by Markel Tax (formerly Abbey Tax). It offers expert, practical advice on UK tax and VAT issues and trends.

Find out more
Faculty exclusive
Two women staring at a computer screen
TAXconnect

Search for a consultant to help you with a specific technical tax problem. TAXconnect works on a telephone ‘hotline’ system, whereby consultants offer advice to Tax Faculty members on tax problems for a nominal fee.

Find out more
Library & Information Service
Compass on an orange background
Can't find what you're looking for?

The ICAEW Library can give you the right information from trustworthy, professional sources that aren't freely available online. Contact us for expert help with your enquiries and research.