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Posts Tagged: corporation tax

The Autumn Budget - Companies with long standing assets to face higher corporation tax

Posted by on November 27th 2017 in Blog Posts, Private Client

The Autumn Budget - Companies with long standing assets to face higher corporation tax

The Autumn budget saw both positive and negative implications for companies this year. Whilst corporation tax remained at 19% with the continued promise of this being reduced to 17% by 2020, changes were announced to the way in which chargeable gains are to be calculated, meaning from January 2018, companies, particularly those with long standing assets, will see a greater corporation tax falling due following an asset sale.

The current position is that any company looking to calculate their chargeable gain following the sale of an asset can allow for the effect of inflation by taking into account HMRC’s “indexation allowance”....

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