Corporation Tax Archives - Elver Consultancy Chartered Accountants Wigan

Basic Corporation Tax reliefs

Elver Consultancy — Wed, 11 Dec 2019 04:00:00 +0000

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

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Tax implications for construction industry

Elver Consultancy — Wed, 23 Oct 2019 04:00:00 +0000

If you run a construction business and secure the services of sub-contractors, or if you are a building sub-contractor, you will need to comply with a special set of tax rules collectively known as the Construction

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Overdrawn directors’ loans

Elver Consultancy — Tue, 08 Oct 2019 04:00:00 +0000

An overdrawn Director’s Loan Account is created when a director (or other close family members) 'borrows' money from their company. Many companies, particularly 'close' private companies, pay the

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Filing deadlines for company accounts

Elver Consultancy — Wed, 04 Sep 2019 04:00:00 +0000

The normal deadline for filing private limited company accounts is 9 months after the company’s financial year end, known as the accounting reference date. For example, many companies have a year-end date of 31

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Changes to Structures and Buildings Allowance

Elver Consultancy — Tue, 30 Jul 2019 04:00:00 +0000

The new structures and buildings allowance (SBA) allows for tax relief on qualifying capital expenditure on new non-residential structures and buildings. The relief applies to the qualifying costs of building and

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Treatment of fees for nominee directors

Elver Consultancy — Mon, 22 Jul 2019 04:00:00 +0000

A nominee director is someone who acts as a non-executive director on the board of a company. This person is normally appointed to act on behalf of another person or company and is effectively their representative on the

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Research and Development tax reliefs

Elver Consultancy — Mon, 22 Jul 2019 04:00:00 +0000

There are two schemes for claiming relief for R&D expenditure. The schemes are known as the Small or Medium-sized Enterprise (SME) Scheme for smaller companies, and the Research and Development Expenditure Credit

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Corporate Capital Loss Restriction

Elver Consultancy — Wed, 17 Jul 2019 04:00:00 +0000

Under current rules up to 100% of chargeable gains can be set against carried-forward capital losses. For accounting periods ending on or after 1 April 2020, large companies and unincorporated associations who accrue

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Loss buying restrictions

Elver Consultancy — Wed, 10 Jul 2019 04:00:00 +0000

Under qualifying circumstances, Corporation Tax (CT) relief is available where your company makes a trading loss. The trading loss can be used by offsetting the loss against other gains or profits of your business in the

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Non-resident company liability to Corporation Tax

Elver Consultancy — Tue, 04 Jun 2019 23:00:00 +0000

Under the current rules non-resident companies with a trading business in the UK are liable to pay UK Corporation Tax on their profits made through a permanent establishment/branch or agency. This includes trading income

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