02380 616053 Home About us Services Factsheets Resources News Contact us Factsheets Corporate and business tax Concise information on the taxation issues you need to consider for both unincorporated and corporate businesses. Click on the links below to access the relevant information. 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. Capital allowances 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. Cash basis for the self-employed Small unincorporated businesses can calculate their profits for tax purposes on a cash basis rather than the normal accruals basis. We look at the optional rules that allow for this, while also taking in the key tax points. Companies - tax saving opportunities Pre-year end tax planning is an important consideration and this factsheet outlines some of the key areas. Topics covered include corporation tax, capital allowances, dividends payments and capital gains. Corporation tax - quarterly instalment payments Under corporation tax self assessment large companies are required to pay their corporation tax in four quarterly instalment payments. This factsheet considers the rules regarding these payments. Corporation tax self assessment This factsheet explains the procedures for filing your company’s tax return and paying the tax due. Fixed rate expenses An optional system of fixed rate expenses applies for unincorporated businesses. We consider the optional rules which allow the use of a 'simplified' fixed rate deduction instead of actual costs. Homeworking costs for the self-employed If you are self employed and work from home this factsheet will summarise what homeworking costs you can claim for tax purposes. Incorporation Considerations when operating as a company on incorporation. IR35 personal service companies The 'IR35' rules are designed to prevent the avoidance of tax and national insurance contributions through the use of personal service companies and partnerships. This factsheet summarises what situations are caught by the rules and the implications of the rules. Research and development Research and development (R&D) by companies is being actively encouraged through a range of tax incentives, which we consider in the points below. The Construction Industry Scheme The Construction Industry Scheme sets out special rules for tax and national insurance for those working in the construction industry. This factsheet considers the workings of the scheme. COVID-19: measures for UK businesses Measures for UK businesses and employers during the COVID-19 outbreak. Autumn Budget 2021 Details of the Autumn Budget 2021. Our summary focuses on the key issues. 08 Nov 2021 Chancellor delivers Budget to lay foundation for a strong economy On 27 October, Chancellor Rishi Sunak delivered a Budget to ensure the UK economy bounces back following the coronavirus (Covid-19) pandemic. 08 Nov 2021 Business groups give mixed response to Budget Business groups gave a mixed response to Chancellor Rishi Sunak's 2021 Autumn Budget speech. Latest News Chancellor delivers Budget to lay foundation for a strong economy On 27 October, Chancellor Rishi Sunak delivered a Budget to ensure the UK economy bounces back following the coronavirus (Covid-19) pandemic. 08 Nov 2021 Business groups give mixed response to Budget Business groups gave a mixed response to Chancellor Rishi Sunak's 2021 Autumn Budget speech. 08 Nov 2021 02380 616053 accountants@GrahamMartinandCo.co.uk Graham Martin & Co 89 Leigh Road Eastleigh Hampshire SO50 9DQ Home | Contact us | Site map | Accessibility | Disclaimer | Privacy | Help | © 2021 Graham Martin & Co. All rights reserved. powered by totalSOLUTION We use cookies on this website, you can find more information about cookies here.