Commentary

D1.107 Corporation tax—basis of assessment

Corporate tax
Corporate tax | Commentary

D1.107 Corporation tax—basis of assessment

Corporate tax | Commentary

D1.107 Corporation tax—basis of assessment

The basis of assessment to corporation tax is the actual profits (see D1.106) as computed for tax purposes for the accounting period1. Deductions from profits which are permitted include qualifying charitable donations2 (see D1.315), certain post cessation expenses (see Division B2.8) and management expenses of investment companies (see D7.305–D7.311).

For the basis of assessment to capital gains tax for gains or losses on corporate disposals of high value (ie in excess of £1m from 1 April 2015 (or £2m before 1 April 2015, or £500,000 from 1 April 2016, as the

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