The following Corporation Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
There are many different government sources of finance for SMEs in the UK. These may be suitable for companies seeking lower levels of finance than is generally provided by private equity. This guidance note summarises key features of the main Government supported grant, lending and equity investment schemes for small businesses.
There are schemes on offer at both the national and regional levels. There are links to various other bodies offering financing to small businesses at the end of this guidance note.
The EFG provides financial assistance for businesses which would not
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The substantial shareholding exemption (SSE) provides a complete exemption from the liability to corporation tax on the gains generated from qualifying disposals of shares and interests in shares by qualifying companies. Conversely, if losses are generated by the disposal and the SSE conditions are
Terminal loss relief for trade losses in the final 12 monthsTrading losses incurred by a company in the final 12 months leading up to the discontinuance of trade may be carried back for up to three years from the period beginning immediately before that 12-month period. So if the final accounting
Maintenance payments are payments made by a taxpayer to their former or separated spouse for the maintenance of that former spouse or their children. To obtain any tax relief for maintenance payments, one of the couple must have been born before 5 April 1935 and the payments must be made by virtue
Time for paymentTwo statutory rules apply on death:•tax is ‘due’ six months after the end of the month of death and carries interest from the ‘due’ date until paidThere is a possibility of payment by instalments, but this applies to certain types of property only ― see the ‘Availability of
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