Corporation tax - what an accountant needs to know - computation of profits


This course covers the computation of profits for corporation tax purposes. It starts by showing how profits may need to be adjusted to comply with the "wholly and exclusively" rule and the prohibition on the deduction of capital expenditure. It then shows how the tax treatment of investment and property businesses differs from that of a trading business. The way in which companies deal with interest paid or received under the loan relationships rules is looked at, and the module concludes with a summary of the rules on intangible fixed assets.

Learning outcomes:

By the end of this course you will understand:

  • The importance of accounting treatment on the computation of taxable profits
  • The rules which may make expenses disallowable for tax purposes
  • The importance of the distinction between capital and revenue expenditure
  • How an investment business carried on by a company is taxed
  • How property business carried on by a company is taxed
  • The loan relationships rules and their impact on companies
  • The treatment of Intangible fixed assets acquired before or after 1 April 2002

Authored by: Geoff Sykes

After qualifying with a small firm Geoff spent ten years in London with Deloittes, originally as a tax specialist, and later as National Tax Training Manager. For the next twenty years he was a tax partner in a medium sized firm based in Leeds and Kendal, advising a wide range of business and personal clients on all aspects of tax. He also has experience as a company director and as a director of a retail cooperative society.

A CPD certificate of completion will be provided by BPP Professional Education Limited upon successful completion of the online course.

CPD Points: 1

CPD Duration (hours): 1

Access: 12 months from purchase date

Price: £35.00 (excludes VAT)