Corporation Tax relief may be available where a company or organisation makes a trading loss. The loss may be used to claim relief from Corporation Tax by offsetting the loss against other gains or profits of the business in the same or accounting
The Corporation Tax main rate will remain at 19% from 1 April 2020. The main rate had been expected to reduce to 17%. However, this reduction was always in doubt after the Conservative election manifesto promised to reverse this announcement.
It has been confirmed by the Chancellor that the Research and Development Expenditure Credit (RDEC) is to be increased from 12% to 13% on 1 April 2020. The RDEC allows companies to claim an enhanced Corporation Tax deduction or payable credit on
Following an announcement at Autumn Statement 2016, and subsequent consultations, the government moved forward with plans to charge Corporation Tax to non-UK resident companies with property income. Currently, these companies are chargeable to Income
Where employees are provided with fuel for their own private use by their employers, the car fuel benefit charge is applied. The fuel benefit charge is determined by reference to the CO2 rating of the car, applied to a fixed amount. HMRC has
There are a significant number of reliefs that can reduce the amount of Corporation Tax your company needs to pay on profits made. Your company can also claim Capital Allowances for assets such as equipment, machinery and cars bought to use in your