Tag Archives: corporation tax

Company loss relief can be claimed early

Where a company makes a trading loss of no more than £200,000 in an accounting period it is now possible to claim relief for that loss even though the corporation tax return CT600 has not been submitted. This will enable the company to carry back the loss to earlier years and obtain a repayment of…

Associated companies count for new corporation tax rates

A 25% rate of corporation tax will apply to all of a company’s profits if they exceed £250,000 from 1 April 2023. The 19% rate will continue to apply where profits are below £50,000. The marginal rate that applies between those limits will be 26.5%. Those upper and lower limits are divided by the number…

Tax relief for energy saving technology

For a number of years there has been a generous 100% tax relief for businesses that install energy saving technology in their premises. This is in addition to the £200,000 annual investment allowance for plant and machinery. The technology that qualifies for this 100% tax break includes energy efficient boilers and energy saving lighting systems….