The following Corporation Tax guidance note Produced by Tolley in association with Malcolm Greenbaum provides comprehensive and up to date tax information covering:
Tax legislation for companies requires that the profits of a trade are calculated in accordance with generally accepted accountancy practice (GAAP), subject to any adjustment required or authorised by law in calculating profits for corporation tax purposes.
GAAP for corporation tax purposes is either UK GAAP or EU-endorsed IFRS (UK-endorsed IFRS from 1 January 2021).
On transition to FRS 101 or FRS 102, any adjustment to accumulated profits and other comprehensive income (OCI) up to
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