UUÂãÁÄÖ±²¥

Charge to corporation tax

Produced by a Tolley Corporation Tax expert
Corporation Tax
Guidance

Charge to corporation tax

Produced by a Tolley Corporation Tax expert
Corporation Tax
Guidance
imgtext

Whether an entity is within the charge to corporation tax or not depends on the type of entity and its territory of residence.

Which types of entity are within the charge to corporation tax?

UK corporation tax is charged on ‘profits’ generated worldwide by any corporate body or unincorporated association.

This includes the following types of entity:

  1. •

    limited companies (including companies limited by guarantee)

  2. •

    unlimited liability companies

  3. •

    members’ clubs

  4. •

    political associations

  5. •

    trade associations

  6. •

    authorised unit trusts

The following types of entity are not within the charge to corporation tax:

  1. •

    partnerships

  2. •

    limited liability partnerships

  3. •

    local authority associations

  4. •

    local authorities

Access this article and thousands of others like it
free for 7 days with a trial of TolleyGuidance.

Powered by

Popular Articles

Married couple’s allowance

Married couple’s allowanceThe married couple’s allowance (MCA) is only available if one of the two spouses or civil partners was born before 6 April 1935. This means that one member of the couple must be at least 89 years old on 5 April 2024 to qualify for an allowance in the 2023/24 tax year.There

14 Jul 2020 12:13 | Produced by Tolley Read more Read more

Simple assessments

Simple assessmentsFrom 2016/17 onwards, HMRC has the power to make a ‘simple assessment’ of the taxpayer’s income tax and / or capital gains tax liability outside of the self assessment system. As HMRC already receives significant amounts of information on the income received and tax paid by

14 Jul 2020 13:40 | Produced by Tolley Read more Read more

Research and development (R&D) relief ― overview

Research and development (R&D) relief ― 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’s Taxes D1.401.For a factsheet which

14 Jul 2020 12:22 | Produced by Tolley in association with Will Sweeney Read more Read more