Corporation Tax Part 1 – The Complete Introduction

Speaker:  Russell Cockburn  |  CPD Hours: 6.0

Price £545 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 covers all the main aspects of corporation tax computation alongside statute, case law and relevant HMRC practice. The objective is to equip delegates from industry or practice 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 Relevance of Accounting Principles
  • Rates of corporation tax
  • Capital allowances – the basics on plant and machinery, setting and premises
  • Rental income profits, expenses and receipts
  • Loan relationship rules
  • Loss reliefs including the new FA 2017 rules
  • Company capital gains and loss relief rules
    • Roll-over relief and available deferral measures
    • Timing issues and contractual regime
  • Computing Corporation tax liabilities
  • Shareholder rules and the taxation of dividends
  • 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 calculations, 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. The course will appeal to those working on industry and those in practice preparing company tax returns and computations on behalf of corporate clients.

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