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Chapter 19 - Corporation tax liability - Coggle Diagram
Chapter 19 - Corporation tax liability
CT computation
Never deduct dividend paid
Dividends received from other companies are never included in taxable total profit
Include all figures gross
Company pay CT (not CGT) for chargeable gains
Interest income = interest receivables - interest payables
QCDs are paid gross by company
Loan relationship: Add back in adjustment of profit
Property income
Differences for company
Property loss are relieved against total profits
No finance cost restriction
Interest payables under loan relationship rules
Long period of account
Split in 2 APs: first 12 months and the rest
Both returns usually be submitted to HMRC 12 months after the end of period
Tax computed and payment on 2 separate date
CT at 19%
CT for chargeable gains
Do not get annual exempt
Indexation can't increase or create a loss
Share matching rules for company
Acquisition on the same day
Acquisition 9 days prior to sale
Share pool