In TAXguide 01/19 Pete Miller explains the new relaxation to the rules for carried forward corporate losses. This guidance covers trading losses, non-trading loan relationship deficits, non-trading losses on intangible fixed assets, expenses of management and UK property business losses.
ICAEW’s Tax Faculty provides links to help practitioners find the latest tax rates, allowance and reliefs.
HMRC contact information, including telephone numbers, online options and postal addresses, together with tips.
Tax is a fast-moving and ever-changing world. Our expert staff and volunteers, and consultation work with government, means we can bring you the latest developments and expert opinions. Join today to access our resources and keep on top tax form.
ICAEW's Tax Faculty produces TAXguides to provide practical support on technical areas of tax.
Features and articles
Can President Biden’s new Made in America Tax Plan halt the race to the bottom for international corporate tax rates? ICAEW’s Tax Faculty outlines the proposals.
Earlier this year, the Supreme Court ruled on a landmark employment law case involving Uber. Mark Hammerton, partner at law firm Eversheds Sutherland, explores the fallout and what it means for tax.
With the pandemic increasing pressure on public finances, could this prompt overdue discussions on tax reform? ICAEW's Head of Tax Frank Haskew and independent adviser Martin Wheatcroft reflect on recent announcements and challenges facing the Chancellor.
The pandemic has presented governments with opportunities to reform their tax systems and introduce incentives to encourage investment and post-pandemic growth.
Are you an agent with experience of the corporate interest restriction return? HMRC would appreciate your feedback on its new digital service.
Our chart this week is in honour of Tax Day, the newest fiscal event in the government calendar where reforms of the tax system under consideration are opened up to consultation.
HMRC has published a second consultation on developing rules for large businesses to report uncertain tax positions, as it continues to work with stakeholders on how to resolve tax disputes quickly.
HMRC is seeking views on bringing the payment of income tax and corporation tax closer to the point when the income arises. Any changes will be controversial but will not be made within this parliament. ICAEW’s Tax Faculty wants to hear from members.
Webinars and recordings
Join BDO’s James Egert, Karen Riley, Steven Levine and Carrie Rutland as they take a high-level overview of the key risks that companies face in making disclosures, submitting accurate returns and applying the law correctly.
In this webinar ICAEW Tax Faculty explain HMRC's plans to roll out Making Tax Digital to corporation tax.
On 12 November 2020, HMRC published the long-awaited consultation on Making Tax Digital for corporation tax (CT), confirming it's plans to extend MTD to companies. In this webinar ICAEW Tax Faculty explain HMRC's plans to roll out MTD for CT.
This informative and practical webinar which will explore the recent changes to the use of carried-forward losses in companies
The Corporate Interest Restriction has effect from 1 April 2017, affecting all accounting periods ending after that date.
An introduction to the corporation tax payment dates for large companies.
First broadcast on 1 December 2018. In this webinar Sarah Ghaffari will be joined by Pete Miller to discuss the tax implications of corporate reconstructions, from the tax treatment of distributions to stamp duty charges.
Bloomsbury Core 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 Core Accounting and Tax Service.
Comprehensive practical guide on the full range of UK taxes, containing worked examples throughout.
Practical guidance on the taxation issues involved in buying and selling a corporate business, aimed at professional tax advisers.
Expert commentary on the current UK corporation tax legislation on capital allowances for plant and machinery.
A chapter on corporate tax reliefs for intellectual property, highlighting tax planning opportunities and potential pitfalls.
Annual guide examining the rules, regulations and tax issues affecting companies in the UK.
Practical guidance on creative sector tax reliefs for film, TV, video games, theatre, orchestra, museums and galleries.
Chapter containing tax planning advice on extracting funds, written for anyone who advises or runs a family or owner-managed company.
Expert commentary on the current UK corporation tax legislation related to property investment.
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 email@example.com.
The main aim of this book is to describe the UK taxation system in sufficient depth and with sufficient clarity to meet the needs of those undertaking a first course of study in taxation.
Outlines the provisions which exempt UK dividends from taxation under the Corporation Tax Act 2009.
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.
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.
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.
Summarises how corporation tax should be calculated in a given tax year, with notes on the current rates and a simple example.
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.
Lists the kinds of companies and organisations subject to corporation tax and where they must be resident for UK tax law to apply. This section briefly summarises the arguments and precedents concerning residence for tax purposes.
A response dated 4 March 2021 to a consultation published by HMRC on 12 November 2020.
A response dated 24 August 2020 to a consultation published by HMRC on 19 March 2020.
ICAEW's Tax Faculty responds to HMRC's call for evidence on raising standards in the tax advice market, arguing that the best approach is for HMRC to work with the professional bodies behind PCRT to improve standards, alongside taking steps to stop unscrupulous promoters of tax avoidance schemes and highlighting the importance of using a professionally qualified adviser.
A response dated 6 May 2019 to a consultation published by HMRC on 11 February 2019.
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.
Paper setting out the government's view on the challenges posed by the digital economy for the corporate tax system, the international tax framework and its proposed approach. The Spring Statement 2018 update reflects feedback from stakeholders since the original consultation closed in January 2018.
HMRC internal manuals providing guidance on corporation tax relating to a wide range of business sectors and reliefs.
Official guidance on corporation tax for limited companies, including preparing accounts, working out corporation tax, reliefs available, filing returns, payments and refunds.
Tax guide to research and development incentive regimes around the world, showing the available benefits, eligibility, the application process and IP jurisdictional requirements in 44 countries.
HMRC guidance on how to qualify and claim for corporation tax creative industry reliefs.
Guide to R&D tax credits and incentives by country, including a comparison of patent box regimes across fifteen countries and general R&D incentives across 36 countries.
Table of time limits from the Compliance Handbook, HMRC's Internal Manual, covering a range of taxes from corporation tax to VAT.
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