As part of the Autumn Budget measures, the Chancellor announced that the indexation allowance for corporate chargeable gains would cease on 31 December 2017. The indexation allowance allowed companies
Companies often have to contend with having two different company accounting periods. This is because there are different rules for Companies House filings and submissions to HMRC, for corporation tax
R&D tax credits were introduced for Small and Medium Sized Enterprises (SMEs) in 2000 and for large companies in 2002. R&D credits are a Corporation Tax relief used to encourage innovation and
If a company has stopped trading and has no other income then HMRC should be informed that it’s dormant for Corporation Tax purposes. HMRC can also send a notification if they think a company is
The Annual Investment Allowance (AIA) limit has changed significantly over the last number of years. However, the limit has been fixed at £200,000 for all qualifying expenditure on or after 1 January
As a general principle, when a company makes a purchase of its own shares, any payment in excess of the amount of capital originally subscribed for the shares is treated as a distribution (taxed as
The Office of Tax Simplification (OTS) provides independent advice to the government on simplifying the UK tax system, with the objective of reducing compliance burdens on both businesses and
Advance Assurance for Research and Development (R&D) tax relief claims is available to small companies making their first R&D claim. To be eligible, the companies must also have an annual
The Diverted Profits Tax (DPT) came into force on 1 April 2015. The DPT is an anti-avoidance measure that targets large multinational businesses that the government deem to be using contrived and
A number of changes to business taxation have come into effect with the start of the 2017-18 tax year. These changes include the following: Corporation Tax The Corporation Tax rate from 1 April 2017