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Practical points 2020 - Business tax

Guidance from ICAEW's Tax Faculty for practitioners on the latest developments in policy, practice and legislation related to business taxes and reliefs, including: capital allowances; cash basis; corporation tax; entrepreneurs relief; and self-employed taxation. These brief practical points are published each month in the faculty's magazine TAXline.

Company A and Company B are both controlled by Mr C. Company A loans cash to Company B to:

Where staff have been furloughed, but grants have not been claimed under the CJRS, costs can only be claimed if some qualifying R&D activity has been undertaken. Account must be taken of the appropriate proportion rules (s1124(3) and (4), Corporation Tax Act 2009 (CTA 2009)).