Specialist Tax Regulatory Materials
HMRC has published details on the filing of in-year returns for trusts and estates for the 2024-25 tax year.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Associated companies 鈥� from 1 April 2023Implications of associated companiesFrom 1 April 2023, the rate of corporation tax that a company is subject to depends on the level of its augmented profits. The rate of tax is based on a comparison of the company鈥檚 augmented profits against the corporation
Payment of the remittance basis chargeRemittance basis chargeThe remittance basis charge is an annual charge payable by 鈥榣ong-term鈥� UK residents for the privilege of claiming the remittance basis.Taxpayers who wish to utilise the remittance basis (but do not qualify for it automatically) must pay
FRS 102 鈥� tax presentation and disclosuresPresentation of tax under FRS聽102An entity must present changes in a current tax liability (or asset) and changes in a deferred tax liability (or asset) as a tax expense (or income) unless the item creating the current or deferred tax amount is recognised in
