This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.
Direct taxes
Manual
Page
Comments
Company Taxation Manual
Updated: CTM03955
Clarification in the context of the small profits rate provisions that where apportioning profits because an accounting period straddles financial years for which the lower or upper limits for marginal relief differ from those of the preceding financial year this is done on a strict time basis. Amendment also made to state that where accounting periods straddle 1 April 2023 and the parts falling before and after are treated as separate accounting periods total profits are apportioned between those on a time basis with the small profits rate provisions apply to the period from 1...
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This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.
Direct taxes
Manual
Page
Comments
Company Taxation Manual
Updated: CTM03955
Clarification in the context of the small profits rate provisions that where apportioning profits because an accounting period straddles financial years for which the lower or upper limits for marginal relief differ from those of the preceding financial year this is done on a strict time basis. Amendment also made to state that where accounting periods straddle 1 April 2023 and the parts falling before and after are treated as separate accounting periods total profits are apportioned between those on a time basis with the small profits rate provisions apply to the period from 1...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
