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Ongoing compliance and day to day management

You have started to run your business through your company. What about Corporation Tax compliance? Does your company have special tax rules that apply?

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Companies: Filing & payment deadlines

If you run a UK business via a UK-registered company you will have the following ongoing filing & payment deadlines. What are the filing and payment deadlines for companies? What penalties apply?

Company tax rates and allowances

This guide sets out the historic, current and future Corporation Tax rates that apply for companies depending on the level of taxable profit. Details are provided for marginal relief which will be relevant again from 1 April 2023.

Audit thresholds

As an existing business, what are the audit requirements? How do they differ depending on the size of the company or group?

Associated companies & tests for control

This guide looks at when other companies may be considered to be 'associated'. What are the tests of association? What are the tax implications?

Close companies: Definitions & control

This guide goes over basic definitions for close companies. When is a company deemed 'close' and what are the tax consequences?

Personal Service Company (PSC) tax

This guide looks at the implications of providing personal services through your personal company. Is it a deemed employment? Do the new Off-Payroll Working rules apply? Are there any other anti-avoidance measures that need to be considered?

RTI: Real-Time Information for PAYE

What is RTI: Real-Time Information (RTI) reporting for PAYE? How does it work? Real-Time Information (RTI) means reporting payroll almost in 'real-time' to HMRC. 

Tax adjustments to profits: Corporation Tax

This briefing provides a non-exhaustive, but a fairly typical list of the range of accounts that may need to be reviewed when preparing Corporation Tax computations together with the adjustments that Small to Medium-Sized Enterprises (SME) need to make in adjusting their accounting profits for Corporation Tax.

Interest paid to directors and individuals

This guide considers the planning opportunities and pitfalls of charging interest on a loan from a director to the company.

Loan relationships

How are loans made to and by a company taxed? What are the rules when loans are written down? What is the difference between a trading and non-trading loan relationship? What are the rules for connected party loans?

Goodwill and the intangibles regime

This guide looks at the tax implications of holding intangible assets within the company. What types of assets are intangibles? Is goodwill included and is its treatment any different? The guide considers the various rule changes and potential planning points.

Research & Development (R&D) Relief 

Find out all about Research & Development (R&D) and Patent Box tax reliefs:

  • R&D guides (subscribers) and answers to FAQs for our regular paid subscribers.
  • R&D Zone (extra premium content) contains fully worked through case studies together with practical know-how, R&D report templates.

Company tax claim checklist

What are the time limits for Corporation tax claims and elections? How are claims and elections made?

Groups: At a glance

This guide looks at when it might be advisable to create a group of companies and what the tax considerations are.

Losses: Trading and other losses

This is a guide to the various types of losses that can be created by a company and how they can be offset. Loss relief restrictions and how to claim losses are also included. An overview is also provided for the Covid-19 temporarily extended loss relief option.

 

Profit extraction 

Your business is continuing and profits are building up in the reserves. How may you extract the profits?

Tax-efficient extraction of profits: toolkit (2021/22)

This toolkit is designed to help a company and its owner decide how company profits are to be extracted.

Close company toolkit (loans to participators)

This guide is a detailed analysis of the Corporation Tax treatment of loans to participators (shareholders) and the s.455 charge in particular. Consideration is also given to loans made by individuals to the company as well.

Directors' loan account toolkit

What are the tax implications of lending money to a director? What if they are also a shareholder? Can the loan be written off?

Dividends: Index

What are the rules for paying dividends? How are dividends taxed? This is an index of the various guides on the website that provide advice or templates for paying dividends.    

 

Planning for the future

Looking to expand and bring in new people or restructure the company or group? What are the options? What are the rules and tax consequences?

Issuing new shares (planning and pitfalls)             

This guide is aimed at companies that may be looking to bring in additional shareholders or provide existing shareholders with additional shares. How is this undertaken? Are there any restrictions? What are the tax implications of transferring shares from an existing shareholder?

An Index to Reoganisations, Demergers & Share transactions

You can reorganise or separate company activities and different subsidiaries using a variety of different methods. The super-practical tax guides in this index provide an outline of the tax treatment together with step guides and tax clearance templates.

 


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