by admin | Nov 11, 2021 | Corporation Tax |
Corporation Tax relief may be available when a company or organisation makes a trading loss. Companies that are eligible for group relief can transfer losses and certain other deficits to companies within the same group by means of Group or Consortium Relief. The...
by admin | Nov 4, 2021 | Corporation Tax |
Film tax relief (FTR) can increase the amount of expenditure that is allowable as a deduction for tax purposes or, if a company makes a loss, can be surrendered for a payable tax credit. To qualify for relief, films must be intended to be shown commercially in cinemas...
by admin | Oct 21, 2021 | Corporation Tax |
Any assets or rights (but not liabilities) remaining in a company at the date of dissolution will pass to the Crown as ownerless property. This happens under what is known as 'bona vacantia' which literally means vacant goods. The bodies that deal with bona...
by admin | Aug 26, 2021 | Corporation Tax |
Under qualifying circumstances, Corporation Tax (CT) relief is available where a company makes a trading loss. The trading loss can be used to claim CT relief by offsetting the loss against other gains or profits of a business in the same or previous accounting...
by admin | Aug 12, 2021 | Corporation Tax |
Goodwill is rarely mentioned in legislation. Most people would settle on a simple definition which would be based on the ‘extra’ value of a business over and above its tangible assets. In the vast majority of cases when a business is sold a...
by admin | Aug 5, 2021 | Corporation Tax |
If a company has stopped trading and has no other income then the company is usually classed as dormant for Corporation Tax purposes. A company is usually dormant for Corporation Tax if it: has stopped trading and has no other income, for example investments is a new...
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