This corporation tax course covers the computation of corporation tax profits. It starts by showing how profits may need to be adjusted to comply with the 'wholly and exclusively' rule and the prohibition on the deducation of capital expenditure.
The corporation tax course then shows how the treatment of investment and property businesses differs from that of a trading business. The way in which companies deal with interest paid or recieved under the loan relationships rule is looked at and the module concludes with a summary on the rules of intangible fixed assets.
On completion of this online course, you will gain an understanding of:
- the importance of accountant treatment on the computation of taxable profits
- the rules which may make expenses disallowable for tax purposes
- the importance of the distinction between capital and revenue expenditure
- how an investment business carried on by a company is taxed
- how a property business carried on by a company is taxed
- the loan relationship rules and their impact on companies
- the treatment of intangible fixed assets acquired before or after 1 April 2002.