Owner-Managed Businesses Guidance

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Computation of taxable profit

Brought to you from the tax exam market leaders, Tolley brings you the guidance you need on computation of taxable profit so that you can always be well informed of the latest tax policy changes.
Latest Guidance
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8 Aug 2019

What is structures and buildings allowance?From 29 October 2018, expenditure on constructing a commercial building or structure, or in certain cases, expenditure on...

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28 Jun 2019

This guidance note looks at how trading profits of sole traders and partnerships are calculated for income tax purposes. Additional special rules apply for very small...

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28 Jun 2019

The annual investment allowanceThe AIA gives a 100% first year allowance for investment in plant and machinery (excluding cars). It is intended to encourage greater...

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28 Jun 2019

The Simplified cash basis for small businesses guidance note explains the criteria to be able to use the cash basis and the Simplified cash basis expenditure guidance...

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28 Jun 2019

Interest paymentsCompanies are usually taxed on interest in accordance with the loan relationship rules. These are covered in more detail in the Corporate debt ― overview...

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28 Jun 2019

IntroductionA capital allowances review is a detailed review of expenditure with the aim of claiming the optimum amount of capital allowances. Examples of opportunities...

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28 Jun 2019

Valuation of stockFor tax purposes, stocks or inventories (as it is called under FRS 102 and IAS) are generally valued at the end of an accounting period at the lower of...

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28 Jun 2019

There are changes included in Finance Act 2019 that affect first year allowances (FYAs). This includes the end of FYAs for items on the Energy Technology List and the...

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28 Jun 2019

Subject to meeting various conditions discussed below, companies can claim a deduction from profits for share awards to directors, employees or to another person...

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28 Jun 2019

Private use adjustmentsSole traders or partnerships may use assets for both business and private purposes. For example, it is common for a sole trader to have a car which...

Latest Guidance
OMB_tax_img3
Owner Managed Business

What is structures and buildings allowance?From 29 October 2018, expenditure on constructing a commercial building or structure, or in certain cases, expenditure on...

OMB_tax_img3
Owner Managed Business

This guidance note looks at how trading profits of sole traders and partnerships are calculated for income tax purposes. Additional special rules apply for very small...

OMB_tax_img4
Owner Managed Business

The annual investment allowanceThe AIA gives a 100% first year allowance for investment in plant and machinery (excluding cars). It is intended to encourage greater...

OMB_tax_img7
Owner Managed Business

The Simplified cash basis for small businesses guidance note explains the criteria to be able to use the cash basis and the Simplified cash basis expenditure guidance...

OMB_tax_img6
Owner Managed Business

Interest paymentsCompanies are usually taxed on interest in accordance with the loan relationship rules. These are covered in more detail in the Corporate debt ― overview...

OMB_tax_img5
Owner Managed Business

IntroductionA capital allowances review is a detailed review of expenditure with the aim of claiming the optimum amount of capital allowances. Examples of opportunities...

OMB_tax_img3
Owner Managed Business

Valuation of stockFor tax purposes, stocks or inventories (as it is called under FRS 102 and IAS) are generally valued at the end of an accounting period at the lower of...

OMB_tax_img5
Owner Managed Business

There are changes included in Finance Act 2019 that affect first year allowances (FYAs). This includes the end of FYAs for items on the Energy Technology List and the...

OMB_tax_img
Owner Managed Business

Subject to meeting various conditions discussed below, companies can claim a deduction from profits for share awards to directors, employees or to another person...

OMB_tax_img2
Owner Managed Business

Private use adjustmentsSole traders or partnerships may use assets for both business and private purposes. For example, it is common for a sole trader to have a car which...