This is a standalone introduction to the main features of the UK Corporation Tax Regime and combined with Parts 2 and 3 gives a detailed outline of UK taxation for corporate businesses. Combining worked examples and all the main aspects of a corporation tax computation alongside statute, case law and relevant HMRC practice, it provides a thorough understanding of the essential principles and procedures.
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Learning Objectives
WHO SHOULD ATTEND
For newcomers and those needing a refresher this gives a thorough grounding in the basics of corporation tax calculation highlighting the main issues when preparing a corporation tax return and all the accompanying information submissions to HMRC.
Course Content
What is a company for CT purposes?
- Trading and investment companies
- UK corporate residence rules, management and control and incorporation tests
- Company accounting periods, periods of account and the charge to corporation tax
- Current associated company rules for group companies
Computing corporation tax profits
- Trading profits, rules on income and expenses
- The importance of UK GAAP/IFRS
- Rates of corporation tax
- Capital allowances
- Rental income profits, expenses and receipts
- Investment income and deducted tax
- Loan relationship rules
- Loss reliefs
- Intangibles reliefs
- Capital gains and loss relief rules
- Computing corporation tax liabilities
- Close companies
- Shareholder rules and taxation of dividends
- Company loan interest
- Preparing a CT computation and return
- Case study on CT computations, returns and capital allowances
Related Courses
- Accounting Principles 1 - Posting Basic Transactions
- Accounting Principles 2 – Accounting Adjustments
- APMG International Finance for Non Financial Managers Online
- BCS Professional Certificate in Business Finance
- Business Finance
- Corporation Tax Part 1 : The essentials – Session 1 & 2
- Finance for Non-Financial Managers
