Tax Bands in England
Companies in the UK pay tax on their income at a rate that changes over time. Where the accounting period does not coincide with the tax period, profits are apportioned between the tax periods. [...]
How to Claim Tax Losses in England
First, it is necessary to establish which category of income the losses arise from. If a company has income in several categories, it must keep a separate account for each tax loss. All losses may, [...]
What Counts as a Tax-Deductible Expense in England?
In the UK, allowable expenses are those incurred for the purposes of the business. Other transactions in which the price is not set on commercial terms should therefore be treated as disallowable expenses. Tax-deductible expenses [...]
Tax Period for a Limited Company in England
The tax period is the financial year running from 1 April to 31 March. As regards the accounting period, the law merely provides that it ends with the preparation of the annual accounts. Make [...]
Taxes in Great Britain
The Legal Framework for Taxation in the UK Common law plays a significant role in the UK. The legislation governing the taxation of companies' income includes: the corporate income tax acts ("Income and Corporation [...]
Corporate Taxation in England
Companies resident in the UK pay corporation tax on their worldwide income, assessed annually for the period from 1 April to 31 March. A special tax regime also exists, but it applies only to [...]