Corporate and Business Tax
Factsheets > Corporate and Business Tax
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.
IR35 Personal Service Companies
The ‘IR35’ rules are designed to prevent the avoidance of tax and national insurance contributions (NICs) through the use of personal service companies and partnerships.
Corporation Tax Self Assessment
Corporation Tax Self Assessment (CTSA) was introduced in 1999. It completed the self assessment reforms introduced for individuals some years earlier by extending the principles of self assessment to company tax returns.
Under corporation tax self assessment large companies are required to pay their corporation tax in four quarterly instalment payments. These payments are based on the company’s estimate of its current year tax liability.
Tax Saving Opportunities for Companies
Due to the ever changing tax legislation and commercial factors
affecting your company, it is advisable to carry out an annual review
of your company's tax position.
Topics covered: corporation tax, capital allowances, dividends, capital gains tax.
The issue of whether to run your business as a company or a sole trade
or partnership is an important decision. In tax terms, due to the
cumulative effect of changes to the tax system over the last five
years, there can be significant tax savings if a business is
incorporated.
Topics covered: corporation tax, stakeholder pensions, capital gains tax, income tax, stamp duty land tax.
Franchising is becoming increasingly popular in Britain with an annual turnover of over £9.5 billion and over 700 franchised brands. The business community now takes franchising very seriously and it is accepted across a range of sectors.
The Construction Industry Scheme
The Construction Industry Scheme (CIS) sets out special rules for tax and national insurance (NI) for those working in the construction industry.
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.
