Corporation tax: what an accountant needs to know - loss relief, capital gains and groups

Summary:

This course covers a comprehensive introduction to loss relief, capital gains and groups

Overview:

This course begins by covering the various claims a single company can make to obtain relief for trading losses. Where losses are carried forward, the restrictions resulting from a change in ownership are covered.The loss relief available where a company is a member of a group is dealt with next. The course then looks at corporation tax on chargeable gains, covering indexation allowance and roll over relief on the replacement of business assets, together with the substantial shareholding exemption. Finally, the ways in which membership of a group can impact on corporation tax on capital gains is dealt with.

Learning outcomes:

On completion of this course, participants will have a greater understanding of:

  • How companies obtain relief for trading losses
  • The effect of a change of ownership on the carry forward of losses
  • When group relief can be claimed for losses
  • The operation of corporation tax on capital gains
  • The relief from tax on capital gains where business assets are replaced
  • How to obtain the benefit of the substantial shareholding exemption
  • How membership of a group can affect corporation tax on chargeable gains

Authored by: Michael Steed & Marion Hodgkiss

Michael Steed is Head of Tax for BPP Professional Development. He is a Chartered Tax Adviser and is a past-President of the ATT. He is the current co-chair of the ATT’s Tax Technical Steering Group.

Marion qualified with PwC as a chartered accountant. She moved into tax on qualification and then on to student training for a number of years. She passed her CIOT exams with distinction, and was awarded the Spofforth Medal for paper 1.

Following this she helped develop courses for CIOT exams and was a member of the exam sub-committe for the CIOT. She was also a member of ICAEW Council for 14 years with a particular interest in the Tax Faculty.

Other courses

If you would like to cover this topic in greater detail, we run the following courses face to face.

Corporation tax refresher and update

Essential Tax Update for the Accountant in Practice or Employment

CPD Points: 1

CPD Duration (hours): 1

Access: 12 months from purchase date

Price (excludes VAT): £35.00