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.

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.

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Features and articles

HMRC contacts agents of businesses in the hot food sector

Article
01 Dec 2023

A letter is being sent to over 500 agents asking them to check whether all sales of clients in the hot food sector are being recognised for VAT, income tax and corporation tax purposes.

Exclusive Emerging opportunities and pitfalls in real estate tax

Article
30 Nov 2023

Guy Richardson and Mark Fielden, from the real estate and construction team at Moore Kingston Smith, recently presented an ICAEW webinar on “Emerging opportunities and current pitfalls in the tax regime for property investment and trading”. In this article we want to accentuate some of the practical tax complexities discussed in the webinar. Subsequently, in light of the Chancellor of the Exchequer’s recent Autumn Statement on 22 November 2023, we want to explore how current tax policy continues to create uncertainty in the real estate and construction sector.

Chancellor confirms full expensing will be permanent

Article
22 Nov 2023

The full expensing regime will not expire on 31 March 2026 and will be made permanent, the Chancellor announced at the Autumn Statement on 22 November 2023.

Autumn Statement: short-term gain, medium-term loss

Article
22 Nov 2023

The Autumn Statement included several measures that are welcome news for businesses, but the medium-term outlook looks less positive.

Exclusive The substantial shareholding exemption and degrouping charges

Article
03 Nov 2023

Peter Rayney examines the vexatious ‘M Group Holdings’ degrouping gains case and considers how companies could avoid the pitfalls.

Exclusive Operating as a limited company – a quick reminder

Article
27 Oct 2023

In recent years, the number of law firms operating as a limited company has steadily increased. 10 years ago, 30% of all firms were limited companies but, by September 2023, that had increased to 55%.

Exclusive HMRC’s digital services: the single customer account

Article
29 Sep 2023

Caroline Miskin explains what we know about HMRC’s single customer account programme, the unique customer record that is a prerequisite, and what this means for taxpayers.

Investment zones and freeports – similarities and differences

Article
04 Sep 2023

Investment zones were refocused at the Spring Budget 2023. They are intended to grow the economy by focusing on places with significant unmet productivity potential and building on their existing strengths. How do they compare to freeports?

Practical guidance

ICAEW's Tax Faculty provides practical support on technical areas of tax.

Exclusive TAXguide 07/23: Making R&D claims – what information must be submitted and when?

Technical release
03 Oct 2023

Two new forms are required when making claims for research and development (R&D) tax relief. While the additional information form is required for all R&D claims, advance notification will also be required for some.

Exclusive TAXguide 06/23: A basic guide to pillar two

Technical release
04 Sep 2023

Pillar two is part of a package of initiatives agreed at OECD level by territories worldwide to tackle the challenges of taxing multinational enterprises (MNEs) cross-border. In the UK, it will be known as the multinational top-up tax and domestic top-up tax that will apply for accounting periods beginning on or after 31 December 2023.

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.

See all TAXguides

Research & Development tax relief

Exclusive A look back at tax in 2023

Article
01 Dec 2023

Frank Haskew, ICAEW’s Head of Taxation Strategy, reflects on a busy 2023 and looks forward to the year ahead.

Exclusive Faculty news: December 2023

Helpsheets and support
01 Dec 2023

Frank Haskew reports on the Hardman Lecture, Autumn Statement and Making Tax Digital.

ICAEW technical round-up: November 2023

Article
27 Nov 2023

This month’s top stories include a raft of Autumn Statement measures; HMRC issues its guidelines for compliance on what qualifies as R&D for tax purposes; and tips for returns for deceased individuals and estates.

R&D tax relief merger to go ahead despite concerns

Article
22 Nov 2023

Jeremy Hunt has confirmed in the Autumn Statement that the two existing research and development tax relief schemes will merge with effect for accounting periods from 1 April 2024.

Exclusive The contentious terrain of Research and Development tax credits

Article
21 Nov 2023

Jesminara Rahman looks at difficulties facing companies pursuing research and development tax claims. In recent years, the tax terrain for Research & Development (R&D) has experienced significant changes, due to a substantial shift in HMRC's approach.

Guidance for making R&D claims released

Article
08 Nov 2023

As HMRC issues its guidelines for compliance on what qualifies as R&D for tax purposes, ICAEW also reminds its members of the PCRT guidance relating to R&D tax services.

Exclusive Faculty news: November 2023

Helpsheets and support
03 Nov 2023

Frank Haskew reports on the latest concerns about HMRC service standards and ongoing dialogue about regulation of the tax profession, tax simplification, and ethical standards.

Exclusive HMRC enquiries

Article
31 Oct 2023

Following a relatively quiet time, our group has seen a marked increase in enquiries from HMRC. Most seem targeted in two areas: property transactions and research and development claims.

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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

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
2022
The TACS Partnership
Bloomsbury Professional Tax Guide

Comprehensive practical guide on the full range of UK taxes, containing worked examples throughout.

Exclusive Bloomsbury's tax rates and tables 2023/24: Finance Act edition

eBook
2023
Lucy Webb

Tax rates and tables updated to reflect measures passed in the Finance (No. 2) Act 2023. Finance (No. 2) Act 2023 legislates for various changes to pension taxation, including the abolition of the lifetime allowance charge from 2023/24. It also introduces a new multinational top-up tax and a domestic top-up tax, and the temporary increased rates for theatre tax relief, orchestra tax relief, and museums and galleries exhibition tax relief have been extended until 31 March 2025.

Exclusive Capital allowances (plant and machinery)

eBook chapter
2023
Satwaki Chanda, Steve Collings, Jacquelyn Kimber, Maria Kitt, David O'Keefe, Andrew Parkes
Corporation Tax

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
2022
Anne Fairpo, Mark McLaughlin, Maria Kitt
Tax Planning

A chapter on corporate tax reliefs for intellectual property, highlighting tax planning opportunities and potential pitfalls.

Exclusive Corporation tax 2023/24

eBook
2023
Satwaki Chanda, Steve Collings, Jacquelyn Kimber, Maria Kitt, David O'Keefe, Andrew Parkes

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
2023
Satwaki Chanda, Steve Collings, Jacquelyn Kimber, Maria Kitt, David O'Keefe, Andrew Parkes
Corporation Tax

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
2023
Peter Rayney
Tax Planning for Family and Owner-managed Companies

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
2023
Dennis Campbell
International Tax and Investment Service

Information on the taxation of companies in India, updated by two issues annually.

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
2023
IBFD
IBFD

Surveys 101 different tax systems from around the world.

Exclusive Anti-avoidance

eBook chapter
2023
IBFD
IBFD
Global Corporate Tax Handbook

A section providing an overview of the UK's anti-avoidance rules relating to corporate taxation. Covers the general anti-abuse rule (GAAR), disclosure of tax avoidance schemes (DOTAS) rules, Pillar Two, transfer pricing legislation, limitations on interest deductibility, the controlled foreign company (CFC) charge, and the legislation on hybrid mismatches.

Exclusive Dividends received

eBook chapter
2022
Malcolm James
Spiramus
Taxation of Small Businesses

Outlines the provisions which exempt UK dividends from taxation under the Corporation Tax Act 2009.

Exclusive Chargeable gains

eBook chapter
2022
Malcolm James
Spiramus
Taxation of Small Businesses

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
2022
Malcolm James
Spiramus
Taxation of Small Businesses

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
2022
Malcolm James
Spiramus
Taxation of Small Businesses

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
2022
Malcolm James
Spiramus
Taxation of Small Businesses

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
2022
Malcolm James
Spiramus
Taxation of Small Businesses

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.

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Articles and books in the ICAEW Library collection

The collection of the ICAEW Library & Information Service includes a range of articles, books and reports on corporation tax. A selection of books on this topic is set out below.

Tolley's yellow tax handbook, 2023/24

Library book
2023
A. Redston (ed.)
LexisNexis

Annual multi-volume work bringing together the fully amended and annotated text of all legislation and official material relating to income tax, capital gains tax, corporation tax, national insurance contributions, tax credits, petroleum revenue tax and inheritance tax. Includes footnotes indicating amendments to legislation, and cross-references to the HMRC Manuals.

Tolley's corporation tax, 2023-24

Library book
2023
K. Walton
Tolley

An annual book on corporation tax law and practice, bringing together the latest legislation, case law and ancillary material. It is arranged by subject, with various aspects of corporation tax compliance and planning being covered in turn. Worked examples are included to clarify complex points.

Tolley's tax planning for owner-managed businesses, 2023-24

Library book
2023
Tolley, with C. Simpson
LexisNexis

A practical title written specifically for the tax practitioner, offering real-life solutions to everyday business problems. Covers issues relevant to owner-managed and family businesses.

Putting it through the company: tax planning for companies and their owners

Library book
2023
C. Bayley, N. Braun
Taxcafe UK

A tax planning guide for company owners, setting out the tax savings that may arise from using a company. It explains, in plain English, the tax rules for dozens of different business expenses, including certain less obvious tax deductions.

The taxation of small businesses, 2023-24

Library book
2023
M. James
Spiramus

A practical, single-volume guide to all aspects of direct taxation of small businesses. The authors clearly explain the relevant legislation, and offer practical advice on how to minimise clients' tax liabilities and avoid common pitfalls. This latest edition incorporates changes arising from the Finance Act 2023. The special classes of taxpayers chapter covers some specialist areas, including: Construction Industry Scheme (CIS); farmers; actors, musicians and entertainers; barristers; breweries and licensed premises; doctors and dentists; solicitors; charities; housing associations.

Research and development: with Patent Box

Library book
2023
G. Collins, C. Ridley
Claritax Books

This book offers valuable insights into the UK's special tax rules for research and development (R&D) expenditure. It reveals the scope of the relief available and provides guidance on meeting the statutory conditions for successful claims.

Rayney's tax planning for family and owner managed companies, 2023/24

Library book
2023
P.Rayney
Bloomsbury Professional

This book examines a wide variety of tax planning matters from the viewpoint of the company, its working and nonworking shareholders and its employees. Includes information on valuing a family or owner-managed company. The book covers all relevant legislative changes up to August 2023.

Using a property company to save tax

Library book
2023
C.Bayley
Taxcafe UK

This new edition has been completely rewritten and contains a wealth of new tax planning information for existing company owners. It covers all the expenses property companies can claim, how to save tax when you extract money from your company and all the tax reliefs that can be claimed when properties are sold. For those thinking about setting up a property company, the guide looks at all the tax benefits, pitfalls, and practical issues, including how to get existing properties into a company.

To find out how you can borrow books from the Library please see our guide to borrowing books.

You can obtain copies of articles or extracts of books and reports through our document supply service.

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.

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