On 30 October 2024, Chancellor Rachel Reeves presented her first budget to parliament. This was a budget intended to restore stability to our economy and to begin a decade of national renewal. Investment will be funded by revised debt rules to facilitate additional borrowing and a hefty £40 billion of tax rises.

Read this article to find out the financial impact on your company should your company be ‘associated’ with another. #taximplications #associatedcompanies

Corporation tax was reformed from 1 April 2023. Read this article to find out how your corporation tax liability will be calculated under the new rules.

From 1 April 2023, the rules are changing such that the rate of corporation tax that a company pays, and when, will be dependent on the level of its profits as well as the number of its associated companies.

Because of the pandemic, the carry-back window for loss relief was extended. Where companies want to claim under the extended rules, it can be done online ahead of the tax return filing date. Learn more in this article. #companytax #taxadvice

If your company is no longer trading and does not have any other income, you can tell HMRC that it is dormant. This will relieve you of the need to file a company tax return or pay corporation tax.

The corporation tax self-assessment return (CTSA) must be submitted to HMRC along with the accounts and tax computations, although it is possible to file all this information online through the HMRC website.

The analysis of whether it is beneficial for a property investor to use a limited company can be complex and this helpsheet aims to identify some of the key advantages in considering a limited company for this purpose.