Definition of investment companies and companies with investment business

Produced by Tolley in partnership with Jackie Barker of Wells Associates
Definition of investment companies and companies with investment business

The following Corporation Tax guidance note Produced by Tolley in partnership with Jackie Barker of Wells Associates provides comprehensive and up to date tax information covering:

  • Definition of investment companies and companies with investment business
  • Introduction
  • Companies with investment business
  • Definition of investment company pre FA 2004

This guidance note provides an overview of what constitutes an investment company and a company with investment business for taxation purposes.

Introduction

The distinction between trading and investment companies is important because the rules relating to the types of expenses which are allowable differ. Investment companies deduct management expenses incurred in managing investments which are not relieved elsewhere from their total income. Further information regarding these types of expenses can be found in the Management expenses guidance note. The options for relieving excess management expenses also differ from trading loss relief, see the Excess management expenses guidance note.

Until 31 March 2004, an investment company

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