Taxation of Business Profits - A Guide for the non-specialist [2021]

The session will cover

• how business profits are calculated for tax purposes;
• the main adjustments needed to accounts profits to arrive at the taxable profits;
• capital and revenue expenditure;
• whether or not to incorporate;
• directors’ loan accounts;
• personal expenses.

Learning aims & objectives:

• Providing those preparing income tax and corporation tax computations with a guide to calculating taxable profits.
• Assisting with an understanding of what is considered capital expenditure for tax purposes.
• Providing a guide to the tax treatment of payments to directors and directors’ loan accounts.