Company tax - Dealings with HMRC


He won't go away. But using the right documents will make your dealing less unpleasant


Order by:
Filter by:
doc
Letter
Election for pre-trading debitsCosts incurred on financing your company, e.g. loan interest, before it starts to trade are classed as non-trading debits. Normally, tax relief for these can only beĀ  obtained by offsetting them against non-trading cre... Read more
22 Dec 2017
Credits: 1
doc
Letter
Herd basis electionIf you keep animals for production purposes, you might be able to take advantage of the "herd basis" to simplify calculating your taxable profits.ProductionFarm animals are treated as trading stock. For tax and accounting purposes th... Read more
01 Dec 2017
Credits: 1
doc
Letter
Farmers' averaging electionIf you carry on a farming or market gardening business, you can elect to average your profits over either two or five years.FarmingBusinesses that depend on a successful harvest are notoriously volatile in terms of profits. ... Read more
13 Nov 2017
Credits: 1
doc
Letter
Intangible asset rollover relief claimIf your company sells a chargeable intangible fixed asset, it can give rise to a gain which is subject to corporation tax. The gain cannot be deferred by purchasing tangible assets. However, if further intangible... Read more
09 Nov 2017
Credits: 1
doc
Letter
Election for land remediation reliefLand remediation relief gives an enhanced deduction for qualifying revenue expenditure spent on bringing land back into use in some circumstances. Use our template letter to treat capital costs as qualifying.Relief... Read more
13 Jul 2017
Credits: 1
doc
Letter
EIS advance assurance letterIf you're looking to raise money from private investors, you may do this via a share issue. If your company is a trading company, you might be able to apply to have the shares issued under the enterprise investment scheme (... Read more
06 Feb 2017
Credits: 1
doc
Letter
Election to carry back earn out lossIf you sell a business, an earn-out arrangement might be used to determine the sale price. For example, the buyer might offer the majority of the purchase price on completion of the contract plus more over three ye... Read more
16 Jan 2017
Credits: 1
doc
Letter
Election to transfer stock at less than market valueWhen an unincorporated business is transferred to a company, any stock (or works in progress for service businesses) is deemed to be sold to the company at market value (MV). This will usually be hi... Read more
21 Dec 2016
Credits: 1
doc
Letter
Election to transfer assets at written down valueWhere you transfer your sole trader or partnership business to a company, plant and machinery or other tangible fixed assets are often transferred too. Strictly, these assets have to be transferred at ... Read more
23 Nov 2016
Credits: 1
doc
Letter
Election to disapply incorporation reliefWhere you transfer your sole trader or partnership business to a company, this process is often referred to as incorporating your business and it counts for capital gains tax purposes as if you had sold it.Whe... Read more
16 Nov 2016
Credits: 1