SBQ - Corporation Tax

• Loan interest payable is always added
• Qualifying donations are added back to trading income
• Car leasing charges are deducted from trading income
• Trade samples are subtracted from trading income
• Perishable gifts to customers like drinks are neither added back or deducted
• Car leases have a disallowance of 15%, which is subtracted from total leasing costs and is NOT pro-rated based on usage
• Employees are taxed on heat and lighting, council tax and water. This is added back to employment income
• Employee NICs are not added back or deducted
• Employee parking fines are not added back or deducted
• Legal fees in relation to business (ie. employee contracts) are deducted
• Bonuses are added back to trading income
• Pension contribution costs are added back to trading income
• Salaries are neither added back or deducted for trading income
• 9 months and 1 day is the corporation tax due from the accounting period for any other company not large or very large
• Profit on disposal is deducted
• Property income is deducted
• Vouchers are neither added back or deducted
• Gift to hospices is deducted
• Client lunches entertaining is added back