UK Bank Corporation Tax surcharge: Difference between revisions
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imported>Doug Williamson (Create the page. Source: HMRC https://www.gov.uk/government/publications/bank-corporation-tax-surcharge/bank-corporation-tax-surcharge) |
imported>Doug Williamson (Simplify.) |
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''UK tax - banking.'' | ''UK tax - banking.'' | ||
The UK Bank Corporation Tax surcharge imposes an 8% additional tax on the profits of | The UK Bank Corporation Tax surcharge imposes an 8% additional tax on the profits of banks, with effect from 2016. | ||
The profits are calculated on broadly the same basis as UK Corporation Tax (CT) profits. Some CT reliefs are disallowed for the purposes of calculating the surcharge, resulting in greater taxable profits and a larger surcharge. | The profits are calculated on broadly the same basis as UK Corporation Tax (CT) profits. Some CT reliefs are disallowed for the purposes of calculating the surcharge, resulting in greater taxable profits and a larger surcharge. | ||
Revision as of 14:04, 24 August 2016
UK tax - banking.
The UK Bank Corporation Tax surcharge imposes an 8% additional tax on the profits of banks, with effect from 2016.
The profits are calculated on broadly the same basis as UK Corporation Tax (CT) profits. Some CT reliefs are disallowed for the purposes of calculating the surcharge, resulting in greater taxable profits and a larger surcharge.
