Full expensing of capital purchases

Full expensing of capital purchases

A reminder to readers that the full expensing 100% first-year capital allowance for qualifying plant and machinery assets came into effect last April. To qualify for full expensing, expenditure must be incurred on the

More time to file company accounts

More time to file company accounts

The normal filing deadline for filing the accounts of a private limited company is nine months after the company’s financial year end. Known as the accounting reference date. For example, many companies have a year-end

Corporation Tax marginal rate

Corporation Tax marginal rate

The Corporation Tax main rate for companies with profits in excess of £250,000 increased to 25% on 1 April 2023. A Small Profits Rate (SPR) of 19% was also introduced from the same date for companies with profits of up

Tax relief for R&D intensive SMEs

Tax relief for R&D intensive SMEs

In the Autumn Statement it was announced that the existing R&D Expenditure Credit and Small and Medium Enterprise Scheme will be merged from April 2024.

It was also confirmed that there will be an enhanced regime

Company tax return obligations

Company tax return obligations

After the end of its financial year, a private limited company must prepare full annual accounts and a company tax return. In most cases a company’s tax return must be submitted within 12 months from the end of the