Fundamentals of UK Corporation Tax

Overview

Course duration: 1 day.

Review the fundamentals of UK Corporate Tax concepts and mechanisms and learn to apply them successfully in your everyday business.

Is it right for me?

Suitable for general practitioners and all professional staff involved in the preparation of business tax computations as well as individuals who prepare accounts and need to understand what tax adjustments need to done.

What will I learn?

By the end of this course, you will be able to:

• Be aware of the major changes and topical points that have arisen over recent months
• Understand the key features of the UK Corporation Tax system
• Avoid common errors when preparing Corporation Tax computations
• Appreciate the basis of the self-assessment regime
• Gain an insight into tax opportunities for outbound investment and corporate reorganisations  

What will it cover?

Introduction and Update

• Overview and description of UK tax system
• Tax planning opportunities and payment dates

Prepare Corporation Tax Computations

• Allowable vs non-allowable items
• Distinguishing between capital and revenue items
• Understanding capital allowance claims
• Taxation of capital gains, reliefs and deferrals

Tax Grouping

• Analysing intra-group assets transfers
• Looking at other inter-company transactions
• Reorganisations, mergers, acquisitions and disposals
• Tax consolidation (group relief)

The Self-Assessment Regime

• Understanding the basis of assessment rules
• Avoiding common pitfalls

Outbound Investment from the UK

• Identifying tax opportunities
• Foreign tax credit planning
• Tax-efficient repatriation of profits
• EU parent/subsidiary directive