Show Notes
What is an associated company and how can this affect business taxation? This episode of The Tax Track looks at how to spot an associated company and apply the rules, particularly in relation to corporation tax. ‘Associated’ has a broad definition in tax terms, which can give rise to surprising results when it comes to family relationships and other businesses. As well as talking about how this affects the rate of corporation tax, and when corporation tax is payable, we also look at the impac...
More from The Tax Track
Cuts to the capital gains tax (CGT) annual exempt amount have brought more individuals within scope of CGT. In this episode we explain how to avoid common errors made when applying the rules to disposals of cryptoassets. From April 2027, employers will be required to process some of the more common types of benefit in kind through the payroll. We explain what is changing and what employers can do now to prepare. Links ICAEW: Follow the numbers: capital gains tax - https://www.ica...
In this episode, we consider the pain points for businesses in meeting their tax reporting obligations and we explore the causes and implications of tax complexity, including what the UK stands to gain from addressing it. Links ICAEW How to fix VAT | ICAEW - https://www.icaew.com/technical/tax/vat/how-to-fix-vatHow to build a better tax system | ICAEW - https://www.icaew.com/technical/tax/tax-reform/how-to-build-a-better-tax-systemBusiness tax compliance costs £15bn a...
Close companies and their directors are in HMRC’s sights as it attempts to close the small business tax gap. In this episode, we look at the challenges posed by new information requirements for directors completing their self assessment tax return for tax year 2025/26 and at the government’s proposals to impose additional reporting requirements on close companies. Links ICAEW: New tax return requirements for directors cause uncertainty - https://www.icaew.com/insights/tax-news/2026/may...
HMRC is stepping up its compliance activities when it comes to VAT. In this episode, we explain what businesses can do to prepare for a VAT enquiry and we explore how HMRC and the government could better support businesses in meeting their VAT obligations. Links ICAEW: VAT compliance controls: new guidance from HMRC - https://www.icaew.com/insights/tax-news/2025/feb-2025/vat-compliance-controls-new-guidance-from-hmrc ICAEW: Making sure a tax return is correct and complete - https://www...
Finance Act 2026 introduces a package of measures designed to drive up standards in the tax advice market, including mandatory agent registration with HMRC. In this episode, we explain how the process will work and discuss the consequences for advisers of having their registration suspended. Links ICAEW: HMRC’s agent registration guidance lacks key details - https://www.icaew.com/insights/tax-news/2026/feb-2026/hmrcs-agent-registration-guidance-lacks-key-details ICAEW: Governmen...