The following Corporation Tax guidance note Produced by Tolley in association with Grant Thornton's stamp taxes team provides comprehensive and up to date tax information covering:
There are a number of UK stamp taxes which apply to transactions involving real estate and stocks and marketable securities, which include:
stamp duty land tax (SDLT), applying broadly to transactions in land interests situated in England and Northern Ireland (separate regimes apply to transactions that take place in Wales and Scotland, see below)
stamp duty, broadly charged on instruments (for example, a stock transfer form) that transfer UK shares and certain other securities
stamp duty reserve tax (SDRT), broadly applying to electronic (or paperless) transfers of UK shares and certain other securities
Each tax is briefly described below, with links to separate guidance notes containing further details.
SDLT was introduced from 1 December 2003 to replace stamp duty on transactions involving interests in land and buildings. Its scope is m
**Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason.
Access this article and thousands of others like it free for 7 days with a trial of TolleyGuidance.
Read full article
Already a subscriber? Login
The vast majority of companies will have loan relationships and so will need to consider how they are taxed under the loan relationship rules. There are also specific provisions dealing with relevant non-lending relationships and other deemed loan relationships. Companies are generally taxable on
Why do we need to calculate these amounts?This guidance note sets out details of the initial calculations a group will need to undertake for the purposes of the corporate interest restriction (CIR) regime. For a general overview of the regime, see the Corporate interest restriction ― overview
This guidance note provides an overview of the partial exemption de minimis rules. This note should be read in conjunction with the Partial exemption overview guidance note. If a business incurs an insignificant amount of input tax which is associated with exempt supplies (exempt input tax), it may
Interest paid on qualifying loans is deducted from the taxpayer’s total income (ie a Step 2 deduction from total income). See the Proforma income tax calculation guidance note.Interest on qualifying loans is usually paid gross by the individual borrower; tax is not withheld at source. This includes