Corporation tax

• Corporate tax rates are the amounts of tax that corporations are required to pay on their taxable income.
• Tolley® Exam Training
• Corporate Taxation Study Manual
• Sittings in May and November

  2024
• Published by Tolley Exam Training
• Published at Lexis House, 30 Farringdon Street, London, EC4A 4HH
• Website for Tolley Online Academy: https://www.tolleytraining.co.uk/
• Printed in the UK by KnowledgePoint Limited
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• Contents copyright © RELX (UK) Limited 2023
• Chapters in FA 2023

  • Introduction to Corporation Tax
  • Computation of Corporation Tax
  • Associated Companies
  • Long Periods of Account
  • Corporation Tax Self-Assessment (CTSA)
  • Payment of Corporation Tax
  • Interest on Late Paid Corporation Tax and Repayments
  • CTSA Penalty Regime
  • Property Income
  • Loan Relationships
  • Loan Relationships – Connected Companies
  • Corporate Capital Gains
  • Corporate Capital Gains – Shares
  • Substantial Shareholding Exemption
  • Intangible Fixed Assets
  • Intangible Fixed Assets – Related Parties
  • Research and Development Expenditure
  • Companies with Investment Business
  • Relief for Trading Losses
  • Relief for Other Losses
  • The Principles of Group Relief
  • Group Relief — Effective Use of Losses
  • Group Relief – Further Aspects
  • Consortium Relief
• Chapters related to Group Relief

  • CHAPTER 22
  • CHAPTER 23
  • CHAPTER 24
  • CHAPTER 25
  • CHAPTER 26
  • CHAPTER 27
• Chapters related to Group Administration

  • CHAPTER 25
• Chapters related to Group Capital Gains

  • CHAPTER 26
• Chapters related to Change in Ownership of a Company

  • CHAPTER 28
• Chapters related to Transfers of Trade

  • CHAPTER 29
• Chapters related to Sale of Shares

  • CHAPTER 30
• Chapters related to Close Company Definition

  • CHAPTER 31
• Chapters related to Close Company Implications

  • CHAPTER 32
  • CHAPTER 33
• Chapters related to Accounting for Income Tax

  • CHAPTER 34
• Chapters related to Overseas Matters for Companies

  • CHAPTER 35
• Chapters related to Transfer Pricing

  • CHAPTER 36
• Chapters related to Purchase of Own Shares

  • CHAPTER 37
• Chapters related to Introduction to Corporation Tax

  • CHAPTER 1
• Sections in Introduction to Corporation Tax

  • 1.1
  • 1.2
  • 1.3
  • 1.4
  • 1.5
  • 1.6
  • 1.7
  • 1.8
  • 1.9
• Chapters related to Computation of Corporation Tax

  • CHAPTER 2
• Sections in Computation of Corporation Tax

  • 2.1
  • 2.2
  • 2.3
  • 2.4
  • 2.5
  • 2.6
  • 2.7
• Chapter 3 topics


  • Introduction
  • Definition of an Associated Company
  • Associated Companies and the Corporation Tax Computation
  • Short APs and Associates
  • Accounting Periods Straddling 1 April 2023
  • Other Rules
  • Sub-Subsidiaries
  • Associates
  • Substantial Commercial Interdependence
  • Holding Companies
  • Associated Companies: Advanced Aspects
• Chapter 4 topics


  • Introduction
  • Preparing the Corporation Tax Returns
• Chapter 5 topics


  • Introduction
  • Duty to Notify Chargeability
  • Notice to File a Return (CT603)
  • Filing of Return
  • Long Periods of Account
  • Amendments
  • Enquiries
  • Duty to Keep and Preserve Records
  • Determinations
  • Discovery Assessments
  • Overpaid Tax
• Chapter 6 topics


  • Introduction
  • Definitions: Large Companies and Very Large Companies
  • Instalment Due Dates for Large Companies
• Chapter 6


  • Introduction
  • Definitions: Large Companies and Very Large Companies
  • Instalment Due Dates for Large Companies
  • Amounts Due by Instalments – Large Companies
  • Very Large Companies – Instalment Dates and Amounts
  • Groups of Companies – Augmented Profits
  • Groups of Companies – Augmented Profits Threshold
  • Exceptions to Paying by Instalments
• Chapter 7


  • Introduction
  • Interest on Instalments
• Chapter 8


  • Introduction
  • Penalties for Failure to Notify Chargeability
  • Penalties for Late Returns
  • Penalty for Failing to Keep Records
  • Penalties for Failing to Produce Documents
  • Penalties for Incorrect Returns – Introduction
  • Penalties for Incorrect Returns – Other Points
  • Penalties for Late Payment of Quarterly Instalments
• Chapter 9


  • Introduction
  • Expenses
  • Loan Interest
• Chapter 10


  • Definition
  • Treatment of Income and Expenses
  • Purpose of the Loan Relationship
• Chapter 11


  • Definition of Connected Companies
  • Amortised Cost and Fair Value
  • Impairments and Released Debts
  • Late Interest Payable to Participators in Close Companies