How a company's profits — trading income, gains and more — are brought into charge to corporation tax, and the reliefs, rates and deadlines that shape the final bill.
Everything in this chapter feeds into a single figure: a company's total taxable profits for an accounting period. It begins with the scope of the charge — which entities pay, when a company is UK resident, and how accounting periods work — before building the profit figure itself, first adjusting trading income and applying capital allowances, then adding chargeable gains with indexation allowance and the Substantial Shareholding Exemption. The chapter then deals with loan relationships, the treatment of dividends, the options for relieving trading losses, and how groups can surrender losses and transfer assets without triggering gains. It closes with the rates, marginal relief, payment and filing rules, and the close company regime with its s.455 charge on loans to participators.
