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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13 Mar 2020

Summary of capital allowances on carsThe current capital allowance rates applicable to cars are as follows:Pool typeDescription of...

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13 Mar 2020

 Definition of capital allowancesIn the broadest sense, capital allowances are a form of tax-approved depreciation. Depreciation, as calculated...

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13 Mar 2020

Energy-saving plant or machineryA first year plant and machinery allowance is available at a rate of 100% for expenditure on qualifying...

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13 Mar 2020

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

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13 Mar 2020

What is structures and buildings allowance (SBA)?From 29 October 2018, expenditure on constructing a non-residential building or structure, or in...

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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...

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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...

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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...

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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....

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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...

Latest Guidance
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Owner-Managed Businesses

Summary of capital allowances on carsThe current capital allowance rates applicable to cars are as follows:Pool typeDescription of carRateLegislationMain rate poolNew and...

OMB_tax_img2
Owner-Managed Businesses

 Definition of capital allowancesIn the broadest sense, capital allowances are a form of tax-approved depreciation. Depreciation, as calculated under GAAP, is not an...

OMB_tax_img5
Owner-Managed Businesses

Energy-saving plant or machineryA first year plant and machinery allowance is available at a rate of 100% for expenditure on qualifying ‘energy-saving plant or...

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Owner-Managed Businesses

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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Owner-Managed Businesses

What is structures and buildings allowance (SBA)?From 29 October 2018, expenditure on constructing a non-residential building or structure, or in certain cases,...

OMB_tax_img3
Owner-Managed Businesses

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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Owner-Managed Businesses

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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Owner-Managed Businesses

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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Owner-Managed Businesses

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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Owner-Managed Businesses

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...