The following Corporation Tax guidance note Produced by Tolley in association with Anne Fairpo provides comprehensive and up to date tax information covering:
Where a UK company receives royalties, the company may suffer withholding tax in the jurisdiction where the payments are made. The level of withholding tax will depend on the jurisdiction (eg the Netherlands has no withholding tax on royalties, regardless of the country to which they are paid) and whether or not there is a tax treaty between the UK and that country. Tax treaties will reduce royalty withholding taxes substantially, often to nil. A claim for treaty benefit will be required to ensure the payment of royalties is made with no / reduced withholding as appropriate. For payments made before 1 January 2021, withholding tax on payments of royalties to a UK company may also be eliminated under the Interest and Royalties Directive (Council Directive 2003/49/EC) where th
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What is structures and buildings allowance (SBA)?From 29 October 2018, expenditure on constructing a non-residential building or structure, or in certain cases, expenditure on acquiring such a building or structure, qualifies for an SBA. The following note has been updated for the changes announced
This note provides details on how to calculate quarterly instalment payments (QIPs) for large and very large companies.The instalment amounts are based on the estimated corporation tax liability of the company’s current accounting period. Therefore, this means that large and very large companies
IntroductionA company that is not resident in the UK will only be subject to UK corporation tax if it carries on a trade in the UK through a permanent establishment. Where it does so, it will be subject to UK corporation tax on all profits that are attributable to the UK permanent establishment.
When does a trust come to an end?A trust may come to an end because it has run its course and comes to a natural end. If a trust has no assets , it ceases to exist. Alternatively, a trust ends because the trustees or beneficiaries decide to wind it up: the trustees distribute the assets by