Accounts and tax for companies

If you have recently setup a new limited company or are thinking of doing so then one of the areas that you need to be aware is the accounts and tax filing regime for companies. After the end of its financial year, a private limited company must prepare...

R&D tax relief for SMEs

There are two schemes for claiming R&D tax relief – the Small or Medium-sized Enterprise (SME) Scheme and the R&D Expenditure Credit (RDEC) Scheme for large companies. The SME scheme offers more generous reliefs to qualifying companies. The amount of...

MTD for Corporation Tax consultation

HMRC has issued a new consultation to examine how the principles established for Making Tax Digital (MTD) could be implemented for those entities within the charge to Corporation Tax. The consultation is open for comment until 5 March 2021. The regime MTD started in...

Company trading losses

Corporation Tax relief may be available where a company or organisation makes a trading loss. The loss may be used to claim relief from Corporation Tax by offsetting the loss against other gains or profits of the business in the same or previous accounting period. The...