Day: April 1, 2021

Introduction So far we have studied the corporation tax rules for single companies. In this chapter we consider the extent to which tax law recognises group relationships between companies. Companies in a group are still separate entities with their own Read More …

Introduction Having looked at the general rules for companies, we now look at the specific rules for investment companies and close companies. Companies with investment business are any companies that make investments, for example in shares, and collect the income Read More …

Introduction We have studied the computation of taxable total profits and the corporation tax payable. We now see how a company may obtain relief for trading losses and also for deficits on non trading loan relationships. We look at the Read More …

Introduction In the last two chapters, we have studied the computation of taxable total profits and the corporation tax payable. In this chapter, we look at some of the consequences of placing a company into administration or liquidation. We also Read More …

Introduction We studied chargeable gains for individuals earlier in this Text. In this chapter, we will consider the treatment of chargeable gains for companies. Companies pay corporation tax on their chargeable gains, rather than capital gains tax. The computation of Read More …

Introduction At this point in our studies we turn to corporation tax, covering the basic corporation tax rules in this chapter. We start by looking at accounting periods, which are the periods for which companies pay corporation tax. We then Read More …

Introduction In this chapter we look at stamp taxes. Stamp duty is a charge on transfers of shares and securities by stock transfer form of 0.5% of the consideration for the sale. The same rate of duty applies for stamp Read More …

Introduction In the previous two chapters, we have studied the charge to IHT both on lifetime transfers and on death, and have looked at some exemptions and reliefs. In this chapter, we look at overseas aspects, including relief where property Read More …

Introduction We started our study of IHT in the previous chapter with a look at which transfers are exempt from IHT and the charge to IHT on lifetime transfers which are, or become, chargeable. This chapter opens with a section Read More …

Introduction In this chapter, we move on to inheritance tax (IHT). IHT is primarily a tax on wealth left on death. It also applies to gifts within seven years of death and to certain lifetime transfers of wealth. The tax Read More …