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For Companies At a Glance
- Tasks: Analyse corporation tax rules and provide expert guidance on loan relationships.
- Company: Join a leading tax consultancy known for its expertise and innovation.
- Benefits: Flexible working hours, competitive pay, and opportunities for professional growth.
- Why this job: Make a real difference in the world of taxation while developing your skills.
- Qualifications: Strong analytical skills and a keen interest in tax legislation.
- Other info: Dynamic team environment with mentorship and career advancement opportunities.
The predicted salary is between 36000 - 60000 £ per year.
What are connected companies for loan relationship purposes ― practical approach
Produced by a Tolley Corporation Tax expert
Corporation Tax Guidance
Brief overview of the rules
The loan relationships legislation applies to any ‘money debt’ arising from the lending of money entered into by a company, either as a lender or borrower. The rules are contained in CTA 2009, ss 292–569 (Pts 5 and 6). Broadly, the tax treatment of loan relationship-related debits and credits is based on the amounts reflected in profit and loss in the company’s accounts (under GAAP), with debits generally being allowable and credits being taxable. However, there are a number of exceptions to this general rule. One of the most important exceptions is where the relevant loan relationship is between ‘connected companies’. For connected companies, any loan relationship debits are generally not allowable and any loan relationship credits are treated as not taxable. Connected companies are also prevented from using fair value accounting and must use amortised cost basis accounting for their loan relationships.
In addition, another potential consequence of a release between two companies is that this can result in a deemed.
To gain access to additional expert tax guidance, workflow tools, generative tax AI, and tax research, register for a free trial of Tolley+â„¢.
Tax on UK resident beneficiaries of non-resident trusts ― overview
UK resident beneficiaries of non-resident trusts are subject to UK tax on payments or benefits received from the trust. They are liable for income tax on income distributions from the trust.
Employment Tax
Income tax paid on behalf of employee
Employers may wish to make payments of employment income to an employee / director without the employee suffering a tax or NIC cost on that pay. In other words, the employer wants to pay an amount net of tax and NIC.
Value Added Tax
Holding companies ― VAT status of activities
This guidance note examines how to determine the VAT status of a holding company’s activities. In particular, it looks at: when a holding company is or is not in business; if a holding company is in business, whether its activities are exempt or taxable.
Corporation Tax employer: LexisLexis
Contact Detail:
LexisLexis Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Corporation Tax
✨Tip Number 1
Network like a pro! Get out there and connect with professionals in the Corporation Tax field. Attend industry events, join relevant online forums, and don’t be shy about reaching out on LinkedIn. We all know that sometimes it’s not just what you know, but who you know!
✨Tip Number 2
Prepare for those interviews! Research common questions related to loan relationships and connected companies. We recommend practising your answers with a friend or even in front of the mirror. The more comfortable you are, the better you’ll perform when it counts.
✨Tip Number 3
Show off your expertise! When you get the chance to chat with potential employers, don’t hold back on sharing your knowledge about tax legislation and its practical applications. We want to see you shine and demonstrate why you’re the perfect fit for the role.
✨Tip Number 4
Apply through our website! It’s super easy and ensures your application gets the attention it deserves. Plus, we love seeing candidates who take the initiative to apply directly. So, what are you waiting for? Let’s get you that job!
We think you need these skills to ace Corporation Tax
Some tips for your application 🫡
Know Your Stuff: Before you start writing, make sure you understand the ins and outs of Corporation Tax. Brush up on the key concepts like connected companies and loan relationships. This will help you tailor your application to show us you’re the right fit!
Be Clear and Concise: When you're putting together your application, keep it straightforward. Use clear language and avoid jargon unless it's necessary. We want to see your skills, not a thesaurus! Remember, less is often more.
Show Your Passion: Let your enthusiasm for tax and finance shine through in your writing. Share why you’re excited about the role and how you can contribute to our team at StudySmarter. We love seeing candidates who are genuinely interested!
Apply Through Our Website: Don’t forget to submit your application through our website! It’s the easiest way for us to receive your details and ensures you’re considered for the role. Plus, it gives you a chance to explore more about what we do!
How to prepare for a job interview at LexisLexis
✨Know Your Tax Legislation
Familiarise yourself with the key sections of the Corporation Tax Act, especially CTA 2009, ss 292–569. Understanding the nuances of loan relationships and connected companies will show your depth of knowledge and commitment to the role.
✨Prepare Practical Examples
Think of real-life scenarios where you’ve dealt with loan relationships or tax implications. Being able to discuss these examples will demonstrate your practical understanding and how you can apply theoretical knowledge in a work setting.
✨Stay Updated on Tax Changes
Tax legislation is always evolving. Make sure you’re aware of any recent changes or updates in tax law that could impact loan relationships. This shows that you’re proactive and engaged in your field.
✨Ask Insightful Questions
Prepare thoughtful questions about the company’s approach to tax issues, particularly regarding connected companies. This not only shows your interest but also helps you gauge if the company’s values align with yours.
