Corporation Tax Part 1 – The Complete Introduction

Speaker:  Russell Cockburn  |  CPD Hours: 6.0

Price £495 plus VAT

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OBJECTIVES

This course is a standalone introduction to the main features of the UK Corporation Tax Regime, and combined with Parts 2 and 3 will give delegates a detailed outline of the UK taxation regime for corporate businesses. It combines worked examples and covers all the main aspects of a corporation tax computation alongside statute, case law and relevant HMRC practice. The objective is to equip delegates with a thorough understanding of corporation tax essential principles and procedures when preparing CT returns.

CONTENT

What is a company for CT purposes?

  • Trading and investment companies
    • Mutuals and unincorporated associations
  • UK corporate residence rules, management and control and incorporation tests
  • Company accounting periods, periods of account and the charge to Corporation Tax
  • Current associated company rules for group companies

 Computing Corporation tax profits

  • Trading profits, rules on income and expenses
  • The Importance of UK GAAP/IFRS
  • Rates of corporation tax
  • Capital allowances – the basics on plant and machinery, setting and premises
  • Rental income profits, expenses and receipts
  • Investment income and deducted tax
  • Loan relationship rules
  • Loss reliefs
  • Intangibles reliefs
  • Company capital gains and loss relief rules
    • Roll-over relief and available deferral measures
    • Timing issues and contractual regime
  • Computing Corporation tax liabilities
  • Close companies – special tax regime and avoidance legislation
  • Shareholder rules and the taxation of dividends
  • Company Loan Interest – rules and obligations
  • Preparing a corporation tax computation and return
  • Case study on CT computations, returns and capital allowances

WHO SHOULD ATTEND

Part 1 is intended for newcomers to corporation tax, as well as those requiring a refresher on the basic principles. Its main objective is to give delegates a thorough grounding in the basics of corporation tax calculation and to highlight the main areas to which attention will need to be paid when preparing a CT return and all the accompanying information submissions to HMRC.

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