Chapter 18 - Corporate gains and other tax planning

Question 1

What are the 5 important differences between corporate disposals and individuals?

Answer 1

1) Companies do not receive an annual exempt amount
2) Companies pay corporation tax on chargeable gains, THEY DO NOT PAY CGT
3) Gains are included in a corporation tax computation, net of current and b/f capital losses
4) There are slightly different share matching rules for companies
5) Companies may benefit from an indexation allowance