Corporate and business tax

Concise information on the taxation issues you need to consider for both unincorporated and corporate businesses. Click on the links below to access the relevant information.

Business motoring - tax aspects

This factsheet focuses on the current tax position of business motoring, a core consideration of many businesses. The aim is to provide a clear explanation of the tax deductions available on different types of vehicle expenditure in a variety of business scenarios.

Capital allowances

The cost of purchasing capital equipment in a business is not a tax deductible expense. However tax relief is available on certain capital expenditure in the form of capital allowances.

Cash basis for the self-employed

Small unincorporated businesses can calculate their profits for tax purposes on a cash basis rather than the normal accruals basis. We look at the optional rules that allow for this, while also taking in the key tax points.

Companies - tax saving opportunities

Pre-year end tax planning is an important consideration and this factsheet outlines some of the key areas. Topics covered include corporation tax, capital allowances, dividends payments and capital gains.

Corporation tax - quarterly instalment payments

Under corporation tax self assessment large companies are required to pay their corporation tax in four quarterly instalment payments. This factsheet considers the rules regarding these payments.

Corporation tax self assessment

This factsheet explains the procedures for filing your company’s tax return and paying the tax due.

Fixed rate expenses

An optional system of fixed rate expenses has been introduced for unincorporated businesses. We consider the optional rules which allow the use of a 'simplified' fixed rate deduction instead of actual costs.

Homeworking costs for the self-employed

If you are self employed and work from home this factsheet will summarise what homeworking costs you can claim for tax purposes.

Incorporation

The issue of whether to run your business as a company or a sole trade or partnership is an important decision. In this factsheet, we summarise the relevant tax changes and show the potential tax savings currently available from operating as a company.

IR35 personal service companies

The 'IR35' rules are designed to prevent the avoidance of tax and national insurance contributions through the use of personal service companies and partnerships. This factsheet summarises what situations are caught by the rules and the implications of the rules.

Research and development

Research and development (R&D) by companies is being actively encouraged through a range of tax incentives, which we consider in the points below.

The Construction Industry Scheme

The Construction Industry Scheme sets out special rules for tax and national insurance for those working in the construction industry. This factsheet considers the workings of the scheme.

Blog posts

Tax gap remains low

HMRC has published a report showing that the UK tax gap in 2017/18.

04 Jul 2019

Preparing the workforce for EU Exit

Over two thirds of EU citizens that are currently in the UK are here for work.

04 Jul 2019

MTD for VAT latest

HMRC is phasing in its landmark Making Tax Digital (MTD) regime, which will ultimately require taxpayers to move to a fully digital tax system.

04 Jul 2019

Employer Bulletin - latest guidance

HMRC has issued the June 2019 edition of the Employer Bulletin.

04 Jul 2019

New measures to ensure small businesses get paid on time

The government has announced a package of measures to ensure small businesses get paid on time.

04 Jul 2019

Payment on account confusion

Under self assessment taxpayers are required to make payments on account of their tax liabilities.

04 Jul 2019

UK Investment Support Directory

International investors who wish to set up and expand their operations in the UK can now benefit from an online tool launched by the Department for International Trade (DIT).

04 Jul 2019

Consultation on the operation of Insurance Premium Tax

HMRC has launched a consultation to review the extent to which the emerging practices are leading to 'unfair tax outcomes' in the administration and collection of Insurance Premium Tax (IPT).

04 Jul 2019

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