Update on Corporation Tax Return CT600

The Government updates are coming through as thick and fast as Boris’s speech notes, so here’s some more guidance to help you with your Corporation Tax Return CT600. Report CJRS Furlough grants and overpayments on Corporation Tax Return CT600 The latest version of the CT600 Corporation Tax Return updated on … Continued

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More details on New Company Loss Carry Back Rules

HMRC have updated their guidance on claiming relief for company trading losses to take account of the extended carry back announced in the Spring Budget and now legislated in the Finance Act 2021. The guidance sets out the details required by HMRC where a company is making a claim for … Continued

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Bounce Back Loans

Bounce Back Loan Scheme

To help smaller Limited Companies, Partnerships and Sole Traders get through and recover from the current pandemic, the Government launched the ‘Bounce Back Loan Scheme’ for loans between £2,000 and a maximum of £50,000 over 6 years. There’s no set-up fees and the first 12 months is interest on capital … Continued

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Folkes Worton Insight

Company Unique Taxpayer References

The Company Unique Taxpayer References (UTR) is the primary identifier for the company and should be used whenever HMRC is contacted and when tax returns are filed. When a new limited company is

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Folkes Worton Insight

Companies eligible for Group Relief

Corporation Tax relief may be available when a company or organisation makes a trading loss. Companies that are eligible for Group Relief can transfer losses and certain other deficits to companies

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Folkes Worton Insight

Dealing with property income losses

Where a property business makes a loss, the loss can usually be carried forward and set against future rental business profits. HMRC’s guidance is clear that any losses made in one rental

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