CTA10/S478 and TIOPA/S382, S385, S406

This guidance is relevant to companies that have trading profits to which a charitable exemption applies, for instance, universities. For basic guidance on charitable trading, see Annex iv to the HMRC Charities Guidance Notes.

The CIR may have the effect of denying a deduction for tax-interest expense that would otherwise be taken into account in computing profits or losses for the purposes of corporation tax. In particular, the net amount of financing costs that a group can deduct for the purposes of corporation tax may be limited by reference to the net amount of non-financing profits that the a group brings into account.

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.