Specialist Tax Regulatory Materials
HMRC has updated its guidance with information about the changes to the Coronavirus Job Retention Scheme (CJRS) from 1 August 2021 and claims for furlough days in July 2021.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Income tax losses 鈥� overviewIncome tax losses can arise due to a number of reasons, but not all losses can be relieved against total income and some losses can only be set against certain types of component income. The table below is a summary of the main reliefs for income tax losses.Summary of
Non-trading deficits on loan relationshipsOverview of non-trading deficits (NTDs)When a company鈥檚 debits on its non-trading loan relationships and derivative contracts in an accounting period exceed the credits on its non-trading loan relationships and derivative contracts in the same period (the
Research and development (R&D) relief 鈥� overviewThis guidance note provides an overview of the research and development (R&D) tax reliefs for companies.See the Research and development tax relief summary diagram which summarises the R&D tax relief.See also Simon鈥檚 Taxes D1.401.For a factsheet which
