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

Consultation on extension of IR35 rules

HMRC has published guidance on the extension of the off-payroll working rules (also known as IR35) to the private sector.

07 May 2019

Government confirms implementation of pensions dashboards

The government has confirmed that the initiative to introduce a pensions dashboard will go ahead.

07 May 2019

'Springtime' tax scams target young people

HMRC has warned young people in the UK to 'stay vigilant' in order to avoid falling victim to 'Springtime' tax refund scams.

07 May 2019

Latest guidance for employers

HMRC has issued the latest version of the Employer Bulletin.

07 May 2019

VAT fuel scale charges

HMRC has issued details of the updated VAT fuel scale charges which apply from the beginning of the next prescribed VAT accounting period starting on or after 1 May 2019.

07 May 2019

Money Laundering

HMRC has published a list of businesses that have not met their obligations under the Money Laundering Regulations.

07 May 2019

'Flexible extension' to Article 50

Business groups, including the British Chambers of Commerce and the Confederation of British Industry, have commented on the six-month 'flexible' extension of Article 50.

07 May 2019