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TAXguide 02/23: Associated companies
The reintroduction of two rates of corporation tax from 1 April 2023 means that the associated company rules now apply. This TAXguide provides a high-level guide to the associated company rules.
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Research and Development tax relief changes
This webinar will provide a practical overview of the changes to Research and Development tax relief regime in the UK, and what that might mean for you or your clients.
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What is happening in the world of R&D relief?
On 23rd March 2023, we invited author, tax advice specialist and ICAEW member David O’Keeffe to take us through an exploration of the current developments in R&D relief following the recent budget announcement. Check out the webinar and a summary of key information shared during the live broadcast.
Features and articles
Exclusive
The tax benefits of employee ownership trusts
- Article
- 05 Dec 2024
In the second of two articles on employee ownership trusts (EOTs), Nick Wright explores the capital gains tax exemption for the shareholders of the trading company and the income tax exemption for employees receiving bonuses.
HMRC provides further guidance on FHL abolition
- Article
- 12 Nov 2024
HMRC has published guidance to clarify issues raised during the consultation on the draft legislation to abolish tax rules for furnished holiday lets (FHLs).
Exclusive
More Budget news
- Article
- 08 Nov 2024
Behind the main Budget announcements, a few other matters of rural interest can be found.
Exclusive
Furnished holiday let reform – the last gasp from the March 2024 Budget!
- Article
- 07 Nov 2024
The recently published details of forthcoming reforms to the tax treatment of Furnished Holiday Lettings (FHL) income, which were initially announced in the 2024 Budget but omitted from the Finance Bill, signal significant changes effective from the end of the 2024/5 tax year. These reforms, which were announced on 30 July, were confirmed as part of the 2024 Budget package.
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Renewable energy – wind turbines
- Article
- 06 Nov 2024
Solar panels have dominated the renewable energy sector for many agricultural clients, often utilising unused roof space to provide clean and lower cost energy. This has been of particular importance in recent years with the large rise in energy costs, especially when farm buildings can be energy intensive. Energy storage can be expensive or not possible, meaning the peak energy generation often doesn’t align with the demands of the farm, such as for running cold stores over winter and spring. Wind turbines could be the solution.
Technical round-up: October 2024
- Article
- 31 Oct 2024
This month’s top stories feature eight Budget updates covered by ICAEW’s Tax Faculty, a list of software products that are now ready for MTD ITSA, and new VAT guidance for private schools.
Budget 2024 verdict: big and bold, but borne by business
- Article
- 31 Oct 2024
Chancellor Rachel Reeves focused on delivering economic stability with her wide-ranging first Budget – but short-term tax raising measures worth £40bn fall primarily on the shoulders of business.
Government publishes its plans for corporation tax
- Article
- 30 Oct 2024
The government has set out its intentions for corporation tax for the next five years, delivering on its commitment to publish a business tax roadmap at the Autumn Budget.
Practical guidance
ICAEW's Tax Faculty provides practical support on technical areas of tax.
Exclusive
TAXguide 06/24: Taxation of cars, vans and fuel Q&As
- Technical release
- 29 May 2024
Answers are provided in this TAXguide to questions asked in ICAEW's webinar on the taxation of cars and vans, including electric vehicles and fuel.
TAXguide 02/2024: Taxation of cryptoassets for businesses
- Technical release
- 28 Feb 2024
TAXguide covering the UK taxation of cryptocurrency held by businesses including corporation tax, stamp taxes, employment income and VAT.
TAXguide 01/2024: Taxation of cryptoassets for individuals
- Technical release
- 28 Feb 2024
TAXguide covering the UK taxation of cryptocurrency held by individuals including charges to capital gains tax and income tax.
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TAXguide 07/23: Making R&D claims – what information must be submitted and when?
- Technical release
- 03 Oct 2023
Two new forms are required when making claims for research and development (R&D) tax relief. While the additional information form is required for all R&D claims, advance notification will also be required for some.
Exclusive
TAXguide 03/23: R&D tax relief for accounting periods spanning 1 April 2023
- Technical release
- 09 May 2023
The rates of research and development (R&D) tax relief have changed for expenditure incurred on or after 1 April 2023. In addition, the change in corporation tax rates from the same date means that the results for periods spanning 1 April 2023 must be time apportioned. This TAXguide uses examples to demonstrate the interaction of these changes.
Research & Development tax relief
Free CPD: the latest developments in tax
- Article
- 26 Nov 2024
Keeping up to date with tax policy and practice is a key part of many accountants’ professional development. Whether you’re analysing the implications of the Budget or planning for MTD ITSA, ICAEW has content that can support your CPD.
Government publishes its plans for corporation tax
- Article
- 30 Oct 2024
The government has set out its intentions for corporation tax for the next five years, delivering on its commitment to publish a business tax roadmap at the Autumn Budget.
HMRC turns the spotlight on GDPR provisions
- Article
- 21 Oct 2024
In Spotlight 65, HMRC has alerted taxpayers to issues with provisions for potential general data protection regulation (GDPR) fines or civil claims.
Exclusive
R&D tax relief what you need to know
- Webinar
- 03 Oct 2024
This webinar from the Tax Faculty will provide an update on the current landscape and recent changes in R&D
Technical round-up: September 2024
- Article
- 26 Sep 2024
This month’s top stories feature ICAEW’s push for Budget tax reforms and a delay in VAT on private school fees, along with a reminder for high earners to submit their 2021/22 tax returns.
Software company wins R&D tax relief case
- Article
- 23 Sep 2024
Having struggled to convince HMRC that expenditure it incurred on a software project qualified for research and development tax relief, the company was successful in its appeal to the First-tier Tribunal.
CT600 loss figures may be incorrect
- Article
- 23 Sep 2024
HMRC is writing to companies and their agents where the amounts for losses reported in the company’s tax return (form CT600) are different from those included in the accompanying tax computations.
ICAEW makes its case for Budget tax measures
- Article
- 19 Sep 2024
ICAEW has set out its recommendations for the business tax roadmap to be published at the Budget and has encouraged the government to carry-out a wider review of the tax system. ICAEW's Tax Faculty goes through the details.
Webinars and recordings
Associated companies: a family affair
- Podcast
- 29 Apr 2024
What is an associated company and how can this affect business taxation? This episode of The Tax Track looks at how to spot an associated company and apply the rules, particularly in relation to corporation tax.
Exclusive
Research and Development tax relief changes
- Webinar
- 20 Apr 2023
This webinar will provide a practical overview of the changes to Research and Development tax relief regime in the UK, and what that might mean for you or your clients.
ChatGPT, corporation tax and FRED 82
- Podcast
- 05 Apr 2023
On the latest ICAEW Insights podcast, we examine how recent developments are affecting the accountancy profession.
Exclusive
What is happening in the world of R&D relief?
- Webinar
- 28 Mar 2023
On 23rd March 2023, we invited author, tax advice specialist and ICAEW member David O’Keeffe to take us through an exploration of the current developments in R&D relief following the recent budget announcement. Check out the webinar and a summary of key information shared during the live broadcast.
Bloomsbury Accounting and Tax Service
Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising around 80 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Accounting and Tax Service.
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Bloomsbury Professional Tax Guide 2024/25
- eBook
- 2024
- The TACS Partnership
- Bloomsbury Professional Tax Guide
Comprehensive practical guide on the full range of UK taxes, containing worked examples throughout.
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Bloomsbury's tax rates and tables 2024/25: Finance (No. 2) Act Edition
- eBook
- 2024
- Lucy Webb
Tax rates and tables updated to reflect measures passed in the Finance (No 2) Act 2024.
Exclusive
Bodies granted exemption from corporation tax on trading income
- eBook chapter
- 2024
- Satwaki Chanda, Steve Collings, Jacquelyn Kimber, Maria Kitt, David O'Keefe, Andrew Parkes
- Corporation Tax
A section outlining the exemptions from corporation tax which are granted to charities, where certain conditions are met.
Exclusive
Capital allowances (plant and machinery)
- eBook chapter
- 2024
- Satwaki Chanda, Steve Collings, Jacquelyn Kimber, Maria Kitt, David O'Keefe, Andrew Parkes
- Corporation Tax
Expert commentary on the current UK corporation tax legislation on capital allowances for plant and machinery.
Exclusive
Corporate tax reliefs for intellectual property
- eBook chapter
- 2024
- Anne Fairpo, Mark McLaughlin, Maria Kitt
- Tax Planning
A chapter on corporate tax reliefs for intellectual property, highlighting tax planning opportunities and potential pitfalls.
Exclusive
Corporation tax 2024/25
- eBook
- 2024
- Satwaki Chanda, Steve Collings, Jacquelyn Kimber, Maria Kitt, David O'Keefe, Andrew Parkes
Annual guide examining the rules, regulations and tax issues affecting companies in the UK. The 2024/25 edition examines current legislation, changes to HMRC guidance and key developments. It is up-to-date with Finance Act 2024 and also reflects a number of recent case decisions.
Exclusive
Creative sector tax reliefs
- eBook chapter
- 2024
- Satwaki Chanda, Steve Collings, Jacquelyn Kimber, Maria Kitt, David O'Keefe, Andrew Parkes
- Corporation Tax
Practical guidance on creative sector tax reliefs for film, TV, video games, theatre, orchestra, museums and galleries.
Exclusive
Expanding the company's activities and structuring business acquisitions
- eBook chapter
- 2024
- Peter Rayney
- Tax Planning for Family and Owner-managed Companies
Advice on making a business acquisition, written for anyone who advises or runs a family or owner-managed company.
Terms of use
You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the Acceptable usage terms.
eBooks
The Library & Information Service provides a collection of eBooks as a benefit of membership. Please log in to access these titles. If you are unable to access an eBook, please see our Help and support or contact library@icaew.com.
Exclusive
Dividends received
- eBook chapter
- 2024
- Malcolm James
- Spiramus
- Taxation of Small Businesses
Outlines the provisions which exempt UK dividends from taxation under the Corporation Tax Act 2009.
Exclusive
Chargeable gains
- eBook chapter
- 2024
- Malcolm James
- Spiramus
- Taxation of Small Businesses
Covers chargeable gains for corporation tax purposes, with additional sections on dividends received, payments to charities, distributions, computation of tax liability, losses, groups, and the way corporation tax relates to income tax.
Exclusive
Loan relationships
- eBook chapter
- 2024
- Malcolm James
- Spiramus
- Taxation of Small Businesses
An overview of loan relationships and corporation tax, with sections on the definition of these relationships, the scope of the rules, accounting for loan relationships and the basis of taxation.
Exclusive
Trading income
- eBook chapter
- 2024
- Malcolm James
- Spiramus
- Taxation of Small Businesses
Explains how corporation tax applies to trading income and the ways in which it differs from income taxation. Covers the annual investment allowance and capital allowances for plant and machinery.
Exclusive
Computation of tax liability
- eBook chapter
- 2024
- Malcolm James
- Spiramus
- Taxation of Small Businesses
Summarises how corporation tax should be calculated in a given tax year, with notes on the current rates and a simple example.
Exclusive
Chargeable accounting periods
- eBook chapter
- 2024
- Malcolm James
- Spiramus
- Taxation of Small Businesses
The chargeable accounting period (CAP) for corporation tax usually coincides with a company's accounting period. This section outlines the alternatives available and how income is allocated within periods for tax purposes.
Exclusive
Scope of corporation tax
- eBook chapter
- 2024
- Malcolm James
- Spiramus
- Taxation of Small Businesses
Lists the kinds of companies and organisations subject to corporation tax and where they must be resident for UK tax law to apply. This section briefly summarises the arguments and precedents concerning residence for tax purposes.
Exclusive
Corporation tax
- eBook chapter
- 2024
- Malcolm James
- Spiramus
- Taxation of Small Businesses
A full chapter on corporation tax in the UK, intended for advisors to small businesses. Includes sections on the scope of corporation tax, trading income, loan relationships, intangibles, derivative contracts, chargeable gains, distributions, losses, demergers, and more.
Terms of use
You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.
Articles and books in the ICAEW Library collection
The collection of the ICAEW Library & Information Service includes a range of articles, books and reports on corporation tax. A selection of books on this topic is set out below.
Tolley's taxwise, 2024-25
- Library book
- 2024
- T. Agnew, et al.
- LexisNexis
An annual two-volume set offering practical expert guidance on how to approach real-world tax computations. Brings together relevant points from current legislation, case law and other official material. Worked examples and detailed explanatory notes are included to illustrate complex points.
Tolley's tax planning for owner-managed businesses, 2024-25
- Library book
- 2024
- J. Houghton
- LexisNexis
A practical title written specifically for the tax practitioner, offering real-life solutions to everyday business problems. Covers issues relevant to owner-managed and family businesses.
Tolley's corporation tax, 2024-25
- Library book
- 2024
- K. Walton
- Tolley
An annual book on corporation tax law and practice, bringing together the latest legislation, case law and ancillary material. It is arranged by subject, with various aspects of corporation tax compliance and planning being covered in turn. Worked examples are included to clarify complex points.
Research and development: with Patent Box, 4th ed.
- Library book
- 2024
- G. Collins, C. Ridley
- Claritax Books
This book offers valuable insights into the UK's special tax rules for research and development (R&D) expenditure. It reveals the scope of the relief available and provides guidance on meeting the statutory conditions for successful claims.
Tolley's yellow tax handbook, 2024-25
- Library book
- 2024
- A. Redston (ed.)
- LexisNexis
Annual multi-volume work bringing together the fully amended and annotated text of all legislation and official material relating to income tax, capital gains tax, corporation tax, national insurance contributions, tax credits, petroleum revenue tax and inheritance tax. Includes footnotes indicating amendments to legislation, and cross-references to the HMRC Manuals.
The taxation of small businesses, 2024-25
- Library book
- 2024
- M. James
- Spiramus
A practical, single-volume guide to all aspects of direct taxation of small businesses. The author clearly explains the relevant legislation, and offers practical advice on how to minimise clients' tax liabilities and avoid common pitfalls. This latest edition incorporates changes arising from the Finance Acts 2024.
Residence: the definition in practice, 5th ed.
- Library book
- 2024
- K. Gordon
- Claritax
A guide to how the statutory residence test (SRT) is applied in practice. The test is most relevant to income tax and capital gains tax, but in some circumstances may also apply for inheritance tax and corporation tax purposes.
Tolley's tax computations, 2023-24
- Library book
- 2023
- Tolley's Editorial Team
- LexisNexis
An annual volume presenting over 500 up-to-date examples illustrating the practical operation of the main UK taxes, as well as national insurance contributions. Includes detailed explanatory notes with full references to relevant statutes and HMRC material.
- View a list of all books in our collection on corporation tax
- View a list of articles in our collection on corporation tax
To find out how you can borrow books from the Library please see our guide to borrowing books.
You can obtain copies of articles or extracts of books and reports through our document supply service.
Representations
ICAEW REP 081/24 Industrial Strategy consultation response
- Representation
- 27 Nov 2024
- PDF (446kb)
A representation dated 24 November 2024 to a consultation published by the Department for Business and Trade on 14 October 2024.
ICAEW REP 070/24 Business Tax Roadmap
- Representation
- 30 Sep 2024
- PDF (162kb)
A letter sent from Frank Haskew, Head of Tax, ICAEW, to James Murray MP, Exchequer Secretary to the Treasury.
ICAEW REP 065/24 ICAEW Autumn Budget submission 2024
- Representation
- 18 Sep 2024
- PDF (313kb)
Ahead of the Budget on 30 October, ICAEW has published its submission to the Chancellor. ICAEW urges the government to put incentivising growth at the heart of the Budget, with recommendations including: long-term fiscal planning, a fundamental review of the tax system and investment in skills and green technologies.
ICAEW REP 041/24 TAFR enquiry and assessment powers penalties and safeguards
- Representation
- 02 May 2024
- PDF (273kb)
A representation dated 2 May 2024 to a consultation published by HMRC on 15 February 2024.
ICAEW REP 023/24 R&D tax reliefs guidance on contracting out and overseas restrictions
- Representation
- 04 Mar 2024
- PDF (456kb)
A representation dated 29 February 2024 to a consultation published by HMRC on 9 February 2024.
ICAEW REP 003/24 Finance Bill 2023-24 - Clause 2 and Schedule 1: New regime for research and development carried out by companies
- Representation
- 09 Jan 2024
- PDF (175kb)
A briefing for MPs on the Finance Bill by ICAEW Tax Faculty.
ICAEW REP 095/23 R&D Tax reliefs reform
- Representation
- 14 Sep 2023
- PDF (168kb)
A representation dated 14 September 2023 to a consultation published by HMRC on 18 July 2023.
ICAEW REP 074/23 Reform of transfer pricing, permanent establishment and diverted profits tax
- Representation
- 14 Aug 2023
- PDF (165kb)
A representation dated 11 August 2023 to a consultation published by HM Treasury on 19 June 2023.
Useful links
Some resources that we link to may pre-date the latest amendments to the relevant tax regulations. While these links contain useful information, please treat them with appropriate caution.
Corporation Tax: detailed information on GOV.UK
- Website
- 13 Mar 2018
Official guidance on corporation tax for limited companies, including preparing accounts, working out corporation tax, reliefs available, filing returns, payments and refunds.
Corporation Tax: HMRC manuals
- Website
- 13 Mar 2018
HMRC internal manuals providing guidance on corporation tax relating to a wide range of business sectors and reliefs.
Corporation Tax topic on GOV.UK
- Website
- 19 Jun 2023
A hub page providing links to various materials and facilities relating to corporation tax, including services, guidance and regulations, news and communications, research and statistics, policy papers, and consultations.
ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.
Further resources
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