Corporation Tax Format

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1、CorporationTaxFormatTradingIncome(W1)Less:TradinglossboughtforwardAdd:Incomefromproperty1Add:Incomefromnon-tradingloanrelationshipAdd:Non-tradingincomefromintangiblefixedassetsAdd:MiscellaneousincomeAdd:Chargeablegains(W2)Less:allowablecapitallossesLess:PropertybusinesslossesDeficitsonnon-tradinglo

2、anrelationshipTradinglossesrelievedagainsttotalprofitsReliefforqualifyingcharitabledonationsProfitschargeabletocorporationtax(PCTCT)Add:FII(UKdividend+taxcredits)AugmentedprofitsCorporationtaxliability(W3)1Non-tradingloanrelationship:Bankinterest&Governmentsecuritiesinterest--Assessedontheaccrualsb

3、asisW1.AdjusttradingincomeNetprofitperaccountLess:Non-tradingincomeAdd:DisallowedexpensesLess:CapitalAllowanceTradingIncomeW2.Chargeablegain(basicformat)ProceedsLess:costUn-indexedgainLess:Indexationoncost:??−???????(??)??ChargeableGainW3.Liability&CAP&FYa)Currentaccountingperiod(CAP)andCorporation

4、taxfinancialyear(FY)Forexample：CAP1:1Nov2010to31Oct2011CAP2:1Nov2011to31Mar201212m5m1/11/10CAP11/11/11CAP231/3/12FY10(5M)

5、FY11(7M)FY11(5M)TotalCTpayable:FY10:5M+FY11:7M+FY11:5Mb)Liabilitycalculationformula•Corporationtaxon£N@mainrate%•Corporationtaxon£N@mainrate%??Less：???−??????•Corporationtaxon£N

6、@smallprofitrate%