020-85494244 info@saledgers.co.uk
Taxation of double cab pick-ups

Taxation of double cab pick-ups

The tax treatment of double cab pick-up vehicles (DCPUs) has been clarified as part of the recent Budget announcements. This follows a chequered history of the tax treatment of DCPUs after a 2020 Court of Appeal judgment and after the previous government reversed its...
Relief for company tax losses

Relief for company tax losses

Corporation Tax relief may be available when a company or organisation incurs a trading loss, a loss on the sale or disposal of a capital asset, or on property income. Tax relief may be available to reduce Corporation Tax by offsetting it against other profits or...
Carry forward a company trading loss

Carry forward a company trading loss

There are a significant number of reliefs available to businesses that suffer losses. Certain losses that your company has not used in any other way can be carried forwards against profits in future accounting periods. In general, a company can carry trading losses...
No change to Corporation Tax rates?

No change to Corporation Tax rates?

The Corporation Tax Main Rate applies to companies with profits exceeding £250,000 and is currently set at 25%. For companies with profits up to £50,000, a Small Profit Rate (SPR) of 19% is applicable. At present, there are no indications that Corporation...
Corporate claims for charitable donations

Corporate claims for charitable donations

When a limited company makes charitable donations specific rules apply. These may include Corporation Tax relief for donations to registered charities or community amateur sports clubs (CASC), as well as capital allowances for equipment donated that has been used...
Tax relief for goodwill purchases

Tax relief for goodwill purchases

Goodwill is a concept frequently discussed, and yet it is seldom addressed in legislation. Typically, it is defined as the additional value of a business beyond its tangible assets. In the vast majority of cases, when a business is sold, a significant proportion of...