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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27 Jun 2019

When determining whether repairs are allowable deductions for tax purposes, there are a couple of considerations. The most important, by far, is whether repairs are...

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27 Jun 2019

In the broadest sense, capital allowances are a form of tax-approved depreciation. Depreciation, as calculated under GAAP, is not an allowable deduction in computing the...

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27 Jun 2019

Business Premises Renovation AllowancesThe Business Premises Renovation Allowance (BPRA) is available to any individual or company who incurs capital expenditure on...

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27 Jun 2019

Special rate poolExpenditure on some types of plant or machinery must, if neither annual investment allowance (AIA) nor first year allowances (FYAs) are available, be...

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27 Jun 2019

This guidance covers some common types of business expenditure which may be disallowable for tax purposes. Some of these are disallowable under specific statutory rules...

OMB_tax_img5
27 Jun 2019

Statutory references to ITTOIA 2005 relate to unincorporated businesses and CTA 2009 relate to companies unless otherwise stated.Legal and professional fees can represent...

OMB_tax_img8
27 Jun 2019

Legislative definition of plant and machineryThe general rule allowing capital allowances on plant and machinery is given at CAA 2001, s 11. There is no statutory...

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27 Jun 2019

Capital allowances for carsDefinition of a carThe definition of a ‘car’ for capital allowances purposes is a mechanically propelled vehicle, except for a vehicle that...

OMB_tax_img
27 Jun 2019

The basic rules determining the calculation of trade profits and losses for corporation tax purposes are found in CTA 2009. Statutory provisions determining the required...

OMB_tax_img5
27 Jun 2019

A provision is effectively an estimate of expenditure which may have been incurred or losses which may have been sustained. They do not necessarily reflect actual...

Latest Guidance
OMB_tax_img3
Owner Managed Business

When determining whether repairs are allowable deductions for tax purposes, there are a couple of considerations. The most important, by far, is whether repairs are...

OMB_tax_img9
Owner Managed Business

In the broadest sense, capital allowances are a form of tax-approved depreciation. Depreciation, as calculated under GAAP, is not an allowable deduction in computing the...

OMB_tax_img5
Owner Managed Business

Business Premises Renovation AllowancesThe Business Premises Renovation Allowance (BPRA) is available to any individual or company who incurs capital expenditure on...

OMB_tax_img3
Owner Managed Business

Special rate poolExpenditure on some types of plant or machinery must, if neither annual investment allowance (AIA) nor first year allowances (FYAs) are available, be...

OMB_tax_img8
Owner Managed Business

This guidance covers some common types of business expenditure which may be disallowable for tax purposes. Some of these are disallowable under specific statutory rules...

OMB_tax_img5
Owner Managed Business

Statutory references to ITTOIA 2005 relate to unincorporated businesses and CTA 2009 relate to companies unless otherwise stated.Legal and professional fees can represent...

OMB_tax_img8
Owner Managed Business

Legislative definition of plant and machineryThe general rule allowing capital allowances on plant and machinery is given at CAA 2001, s 11. There is no statutory...

OMB_tax_img7
Owner Managed Business

Capital allowances for carsDefinition of a carThe definition of a ‘car’ for capital allowances purposes is a mechanically propelled vehicle, except for a vehicle that...

OMB_tax_img
Owner Managed Business

The basic rules determining the calculation of trade profits and losses for corporation tax purposes are found in CTA 2009. Statutory provisions determining the required...

OMB_tax_img5
Owner Managed Business

A provision is effectively an estimate of expenditure which may have been incurred or losses which may have been sustained. They do not necessarily reflect actual...