by admin | Aug 8, 2024 | Corporation Tax |
Goodwill is a concept frequently discussed, and yet it is seldom addressed in legislation. Typically, it is defined as the additional value of a business beyond its tangible assets. In the vast majority of cases, when a business is sold, a significant proportion of...
by admin | Jul 25, 2024 | Corporation Tax |
The Corporation Tax Main Rate applies to companies with profits in excess of £250,000. The applicable rate is currently 25%. A Small Profit Rate (SPR) of 19% applies to companies with profits of up to £50,000. Where a company has profits between...
by admin | Jul 11, 2024 | Corporation Tax |
It is important that anyone responsible for the accounts and tax filing regime for private limited companies is aware of their obligations. After the end of its financial year, a private limited company must prepare full annual accounts and a company tax return....
by admin | Jul 4, 2024 | Corporation Tax |
Full expensing allows for a 100% first-year capital allowance for qualifying plant and machinery assets and came into effect last April. To qualify for full expensing, expenditure must be incurred on the provision of “main rate” plant or machinery. Full...
by admin | Jun 20, 2024 | Corporation Tax |
Tax relief may be available for post-cessation expenses of a trade. To be an allowable post-cessation expense the trade must have ceased and the expense must have been deductible in calculating the trading profits. This means that the expense still has...
by admin | May 9, 2024 | Corporation Tax |
In the Autumn Statement last year, it was announced that the existing R&D Expenditure Credit and Small and Medium Enterprise Scheme would be merged from April 2024. The merged scheme R&D expenditure credit (RDEC) and...
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