This annual guide to corporation tax meets the everyday needs of the
busy tax adviser. A collaboration by leading tax writers Satwaki Chanda,
Jacquelyn Kimber and Andrew Parkes, Corporation Tax 2021/22 examines the
rules, regulations and tax issues affecting companies in the UK.
The 2021/22 edition examines current legislation, changes to HMRC
guidance and explores the following key developments:
- The rate of corporation tax is set to rise to 25% in 2023
- From 1 April 2023, the small profits rates with marginal relief to be
reinstated
- Capital allowance tax breaks to encourage business investment
- Annual investment allowance to remain at £1 million until 31 December
2021
- A 130% superdeduction for investment in general plant and machinery
- A 50% special rate allowance for special rate assets (long life
assets, integral features etc)
- A 100% first year allowance for investment in plant and machinery in a
Freeport tax site
- Temporary extension of carry back relief for trade losses incurred in
accounting periods ending between 1 April 2020 and 31 March 2021 from
current 1 year carry back period to three years
This accessible reference guide has a user-friendly structure with
'signposts' at the beginning of each chapter to summarise key topics and
'focus points' throughout to highlight important issues, as well as
numerous worked examples demonstrating how to apply the main principles
in practice.
