The following Corporation Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
The coronavirus (COVID-19) outbreak left many companies struggling to stay afloat. The Government introduced a range of measures to help support such companies. In addition, several ad hoc reliefs were introduced to ease cash flow and help companies throughout the pandemic.
The table below details the key measures implemented to date, and also where further information can be found in our guidance. Further reading is also detailed below:
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There are several sets of provisions in the Taxes Acts which relate to ‘close’ companies, most of which are anti-avoidance measures aiming to catch transactions between those companies affected and their owners, where there may otherwise be a tax advantage. Broadly speaking, most owner-managed or
This note offers guidance in respect of the administration of company tax returns. If a company or organisation is subject to corporation tax they will have to complete and file a company tax return for each accounting period. A company or organisation must, in the main, file a return even if they
This guidance note explains the general rules surrounding the availability of indexation allowance on the disposal of company assets and provides information on the rebasing rules for assets held on 31 March 1982. For an overview of the general position regarding company disposals, please refer to
Business asset disposal relief (previously known as entrepreneurs’ relief) is a capital gains tax (CGT) relief that allows business owners with chargeable gains on qualifying business assets to pay CGT at a rate of 10%. For disposals made on or after 11 March 2020, the relief is available on up to
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