Specialist Tax Regulatory Materials
11 November 2024 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Enterprise management incentive schemesWhat is an enterprise management incentive (EMI) scheme?The enterprise management incentive (EMI) scheme is a tax-advantaged share option employee incentive scheme aimed at small entrepreneurial companies that meet certain conditions. It is designed to assist
First year allowancesFirst year allowances (FYAs) are available on the following items:鈥irst-year relief on qualifying new main rate plant and machinery (at 100%, which is described by HMRC as 鈥榝ull expensing鈥�) and special rate assets (at 50%) from 1 April 2023 (companies only). These FYAs were
Computation of corporation taxCompanies pay corporation tax on the taxable total profits (TTP) generated in a chargeable accounting period (CAP).To ascertain whether the entity is within the charge to corporation tax, see the Charge to corporation tax guidance note.For more information on the type
