Companies are required to deduct basic rate income tax (currently 20%) at source and remit it directly to HMRC when making certain types of payment. CT61 payments typically include: Annual interest on debentures or loan stock to individuals Annual payments or patent royalties to individuals Royalties on certain intellectual property to overseas persons The tax deducted at source settles the income tax liability of the recipient, not that of the company making the payment. Inc

Understanding the corporation tax treatment of goodwill and other customer-related intangibles is essential when preparing accounts and tax computations. The UK rules have been revised several times since 2002, so the date of acquisition determines what relief (if any) is available. General Rules for IFAs Under CTA 2009, ss.721–728, income and expenses relating to intangible fixed assets (IFAs) — such as royalty receipts or payments for patents and copyrights — are brought in

The Substantial Shareholdings Exemption (SSE) is a key UK corporate tax relief that allows companies to dispose of shares in trading companies without incurring corporation tax on chargeable gains. Introduced by the Finance Act 2002, SSE was designed to promote investment, facilitate corporate restructuring, and remove tax barriers to commercial transactions. Conditions for SSE SSE exempts qualifying gains from corporation tax when a company disposes of shares in another comp