Specialist Tax Regulatory Materials
HMRC has published pension schemes newsletter 156.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Foreign exchange issuesOverview of foreign exchange provisionsForeign exchange (FX) movements are generally taxed following the rules applicable to the underlying income, expenditure, asset or liability on which they arise, broadly as follows:Capital assetsOn a realisation basis (ie on disposal)
Computation of corporation taxCompanies pay corporation tax on the taxable total profits (TTP) generated in a chargeable accounting period (CAP).To ascertain whether the entity is within the charge to corporation tax, see the Charge to corporation tax guidance note.For more information on the type
Non-business expensesIntroductionIn order for an expense to be tax deductible it must be incurred because of an employee鈥檚 employment. Any non-business related expense is, therefore, not relievable except in some very particular circumstances.This guidance note deals with three separate issues. The
