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Corporation tax

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

In this section

Features and articles

HMRC’s guidance on taxing cryptoassets

Michelle Robinson of Deloitte examines HMRC’s guidance for businesses that undertake transactions involving exchange tokens, including the scope of HMRC’s guidance, its approach to taxation of cryptoassets, company taxation, venture capital schemes and VAT, among other things.

Corporation Tax: the Patent Box

The Patent Box enables companies to apply a lower rate of Corporation Tax to profits earned after 1 April 2013 from its patented inventions. The relief will be phased in from 1 April 2013 and the lower rate of Corporation Tax to be applied will be 10%.

Claim capital allowances

You can claim capital allowances when you buy assets that you keep to use in your business, like equipment, machinery, or business vehicles like cars, vans or lorries. These are known as plant and machinery. You can deduct some or all of the value of the item from your profits before you pay tax.

Corporation Tax: Disincorporation Relief

Disincorporation Relief allows a company to transfer certain types of assets to its shareholders (who continue to operate the business in an unincorporated form) without the company incurring a Corporation Tax charge on the disposal of the assets.

Webinars and recordings

Corporate Interest Restriction

The Corporate Interest Restriction has effect from 1 April 2017, affecting all accounting periods ending after that date.

TAXtalk January 2018

Have you thought at all about the possible tax consequences of Brexit? Or how about the recent OECD and EU proposals on mandatory disclosure? We have been talking about these and lots more besides.

TAAR very much - Reconstructions and winding up

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.

Property Income

First broadcast 11 July 2017. Join Seamus Murphy, senior tax manager KPMG and Sue Moore for a canter through some key areas pertinent to property and tax including making tax digital, trading in UK land, the finance restriction for buy to let landlords, non doms with property, tax free property income, residence nil rate band and the consultation on bringing non UK companies with UK property into the corporation tax net.

Where next for International Tax? - 2015 update

The world of international tax is moving fast, with many changes announced or on the horizon. In this webinar we will examine the latest outcomes from the OECD BEPS Action Plan and in particular the papers published on 5 October.

Questions and answers on UK tax issues and trends from the ICAEW Tax and VAT Helpline, a subscription service provided by Markel Tax.

Markel Tax FAQs are correct at the time of going to press. To check current validity, please call the ICAEW Tax and VAT Helpline.

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Taxation: Finance Act 2019

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.

Dividends received

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

Chargeable gains

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.

Loan relationships

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.

Trading income

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.

Computation of tax liability

Summarises how corporation tax should be calculated in a given tax year, with notes on the current rates and a simple example.

Chargeable accounting periods

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.

Scope of corporation tax

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.

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MTD - Interest harmonisation and sanctions for late payment

ICAEW Rep 23/18

Taxing gains made by non-residents on UK immovable property

ICAEW REP 198/16

Simplification of the corporation tax computation

Further support

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.

Corporate tax and the digital economy: position paper

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.

Corporation Tax: HMRC manuals

HMRC internal manuals providing guidance on corporation tax relating to a wide range of business sectors and reliefs.

Corporation Tax on GOV.UK

Official guidance on corporation tax for limited companies, including preparing accounts, working out corporation tax, reliefs available, filing returns, payments and refunds.

2017 Worldwide R&D Incentives Reference Guide

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.

Global Research and Development Incentives Group

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.

Tables of time limits

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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