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Oh no! Monica's family are causing her company tax to go up. Can you sort it?
Manage episode 362546333 series 3467431
The things we do for tax에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 The things we do for tax 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
This podcast episode looks at the impact the two rates of corporation tax have on small companies from 1 April 2023 and how associates can increase a company’s tax liability.
The guest is Ros Martin, a leading tax consultant and trainer. Ros explains the key issues you need to consider. Whilst these are not new rules, the single rate of corporation tax until 1 April 2023 reduced their practical impact.
Using a detailed worked example with Monica and her family and all their many different trading entities to help explain the practical issues you will meet.
Main issues from 1 April 2023 – Definition of associated companies – Simple spouse associated companies – Irreducible control – Who are the associates in the family? – 1 April 2023 and how to count the associates – Non-trading and dormant companies – Investment companies and watch for non-resident companies – Family company associates: a detailed worked example covering financial, economic and organisational interdependence – Lack of co-operation when working out associates – HMRC CT manual examples – Statutory Instrument – CT600 – Common control
It is excellent tax CPD for accountants working in practice. It is totally free tax CPD.
Check www.thethingswedofortax.co.uk for new episodes providing CPD for tax accountants
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