Part 2 covers large UK companies, UK groups and more detailed corporation tax rules than is covered on the Part 1 course. This is a standalone course providing a review of the tax regime for larger UK companies and groups. Attendance on the Part 1 course is not essential as the course includes refresher points on these aspects of Corporation Tax but a basic understanding of the essential principles and computational aspects of corporation tax in the UK is assumed.
Introduction to group taxation
Loss relief – trade and non-trade losses, methods of available set-off
Recent changes to loss relief rules and procedures
Group relief rules and claims procedures
Rental income losses
Capital Gains and losses
Financial income aspects
Charges on income
The foreign profits exemption
The Worldwide debt cap – brief introduction
Double taxation relief
Foreign exchange transactions
Specific reliefs and avoidance provisions
Transfers of trade and loss relief rules
Major Changes in Trade rules
Capital gains and losses – rules and planning?
Inter-group rules and procedures
The substantial Shareholdings exemption
Recent developments and changes to the CT regime – the course provides coverage of any recent developments in the world of large and group company taxation as applicable in the UK and includes and relevant recent HMRC press releases, statements of practice and case law developments.
WHO SHOULD ATTEND
Part 2 is intended for newcomers to corporation tax in larger companies and groups, as well as those requiring a refresher on the issues applying to such companies. It aims to cover the main issues which affect larger UK corporates and identify the major important aspects of their CT returns which delegates are likely to encounter in practice on a day to day basis. At the end of the course delegates should be able to successfully identify and deal with the chief computational and compliance aspects of their company and group tax reporting obligations.