Companies and corporation tax

Companies and corporation tax guidance:

A company applying for admission to trading on AIM (AIM admission) must meet the requirements of the AIM Rules for Companies (AIM Rules) as well as complying with: • the...

Practice Note

Where a company acquires (or otherwise incurs capitalised expenditure upon) an intangible fixed asset that falls within the corporate intangible fixed asset regime (IFA...

Practice Note

A business can be acquired by one of two methods: an asset purchase or a share purchase. The two types of transaction are fundamentally different in their nature and...

Practice Note

This Practice Note is about the rules that can impose a charge to tax on UK persons holding interests in a non-UK resident company if that company disposes of an asset...

Practice Note

Auction processes play an important role in particular industries, for example, in the private equity industry or in government privatisations, or in large value...

Practice Note

Auction processes play an important role in particular industries, for example, in the private equity industry, in government privatisations, or in large value...

Practice Note

The bank levy is a tax that: • applies in respect of periods of account (defined in the legislation as chargeable periods) ending on or after 1 January 2011, and • is...

Practice Note

Corporation tax is charged on the profits of an accounting period of a company (and certain other entities) within the charge to UK corporation tax. For further detail on...

Practice Note

Where a transfer of assets (as opposed to a transfer of shares) results in the transfer of a trade or other qualifying activity, the capital allowances rules for plant...

Practice Note

Provisions exist to ensure, generally, that assets may not be transferred between connected persons in such a way as to accelerate capital allowances by means of the...

Practice Note

For both plant and machinery allowances and structures and buildings allowances (SBAs), anti-avoidance rules exist to prevent persons from obtaining a tax advantage by...

Practice Note

Produced in partnership with Martin Wilson 1 Capital allowances 1.1 In this clause 1: CAA 2001 means Capital Allowances Act 2001 Fixtures means those items forming part...

Precedents

Produced in partnership with Martin Wilson 1 Capital allowances—for use where the Seller has claimed plant and machinery allowances and the parties will enter into a s...

Precedents

This Practice Note is about capital allowance-related pre-contract enquiries on a property transfer. It applies to the grant of a new property interest (eg a lease) as...

Practice Note

This Practice Note sets out how the capital allowances rules interact with the rules relating to: • capital gains tax, including corporation tax on chargeable gains (CGT)...

Practice Note

Companies that are members of the same capital gains group may transfer assets between themselves free of corporation tax on chargeable gains (CGT), see Practice Note:...

Practice Note

The capital gains degrouping rules apply where, broadly speaking, a company leaves a group holding an asset that was transferred to it by another member of...

Practice Note

The capital gains legislation includes specific provisions for persons who are connected with one another. These provisions can be divided into two broad groups: • rules...

Practice Note

ARCHIVED: This Practice Note has been archived and is not maintained. The annual tax on enveloped dwellings (ATED) was introduced in Finance Act 2013 (FA 2013) as part of...

Practice Note

This Practice Note is about the rules for establishing whether companies are within the same group for the purposes of corporation tax on chargeable gains. In many ways a...

Practice Note

FORTHCOMING CHANGE relating to transfers within an EU group: Finance Bill 2020 is expected to contain provisions permitting companies to pay tax in instalments in...

Practice Note

For a taxable capital gain to arise, there has to be a disposal, or a deemed disposal, of an asset. The taxpayer will need to establish when the disposal took place. This...

Practice Note

FORTHCOMING CHANGE relating to a corporate capital loss restriction: Finance Bill 2019–20 will introduce a corporate capital loss restriction (CCLR), limiting companies’...

Practice Note

Entrepreneurs' relief is a capital gains tax (CGT) relief designed to encourage individuals to set up and expand their own businesses. Provided that the conditions are...

Practice Note

Investors’ relief is a capital gains tax (CGT) relief introduced by Finance Act 2016, designed for individuals who invest in unquoted trading companies, without being...

Practice Note

FORTHCOMING CHANGE: As originally announced at Budget 2018, the government ran a consultation between 1 April and 1 June 2019 on proposals to curtail capital gains tax...

Practice Note