Introduction to Corporation Tax

In addition to your class tuition and study materials, you will receive the following:


Exercises

• Worked example of adjusted profits
• Worked example of capital allowances
• Worked example of corporation tax liability
• Worked example of group loss relief

Other Extras

• Certificate of attendance

Level: Introductory


Synopsis:
The calculation and payment of corporation tax applies to all UK resident companies, this introductory course covers the basic principles of corporation tax, and raises knowledge to show how to deal with losses and the relief's available for both a single company and groups of companies


At the end of the course participants will be able to: Demonstrate an awareness of the differences between accounting profit and taxable profit . Understand how a basic corporation tax liability is calculated . Understand the different levels of corporation tax .


Prerequisites:
None


Suitable For:
Accountants working in both industry and practice and solicitors who need a basic knowledge of how income tax is calculated and administrated


Introduction

• What is corporation tax and who does it apply to
• UK residency for companies

Calculation of trading income

• Adjusted profits
• Calculation of capital allowances

Calculation of tax liability

• Rate of corporation tax payable
• Implications of having associated companies on corporation tax liability

Loss reliefs for corporation tax

• Loss reliefs for single companies
• Loss reliefs for groups

Administration of corporation tax

• Corporation tax filing dates and payment dates