UK Taxation of Groups

Overview

The course shows how UK direct tax law applies to groups of companies, whether small family-owned groups or large public companies. It assumes an understanding of the basics of corporation tax which can be obtained by attending the Corporation Tax Refresher and Update course.

The course begins by reviewing how the associated company rules affect the rate of corporation tax paid by group companies, and how they are affected by self assessment (including group tax payments). After dealing with capital allowance issues for groups, the course looks in detail at the key topic of group and consortium structures and the availability of group relief for losses. The capital gains advantages of group structures are also dealt with, together with the substantial shareholding exemption and also the pitfalls which can be encountered when purchasing companies with capital losses. Finally, the course covers the tax implications of various group transactions, such as the purchase and sale of subsidiaries, reconstructions within groups, and de-mergers.

Who is this for?

This course will be of benefit to accountants and advisers working with groups of companies and involved with managing and planning their affairs.

What will you learn?

• Corporation tax rates and the effect of associated companies
• Groups and self assessment, including group tax payments
• Capital allowances in groups including anti avoidance legislation
• Group structures and group relief for losses
• The interaction between UK group relief and EU law
• Consortium structures and the availability of loss relief
• Group chargeable gains and losses
• Purchases and sales of subsidiaries
• Disposals of group companies and reconstructions within groups
• Demergers
• An overview of recent changes to foreign dividends and foreign branches

PSC Elective

This course may be taken as a PSC elective, although it may also be attended by non-trainees.

SRA Competence

Other related courses

Corporation Tax Refresher & Update

Essential Tax Update for the Accountant in Practice or Employment

Income Tax Refresher & Update

International VAT & Customs Duties after Brexit– an update

Payroll Refresher & Update

VAT Refresher & Update