The following Corporation Tax guidance note by Tolley in association with Jackie Barker of Wells Associates provides comprehensive and up to date tax information covering:
This note provides guidance on the computation of total taxable profits for an investment company. For the definition of an investment company, please refer to the Definition of investment companies and companies with investment business and Management expenses guidance notes.
The calculation of an investment company’s corporation tax position is similar to that of any company and, prior to the alignment of corporation tax rates on 1 April 2015, an investment company could benefit from the small profits rate and marginal rates of corporation tax. An exception to this was if the company was classified as a close investment holding company. In such cases, the company was subject to the
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