Changes and issues affecting the Corporation Tax online service

Super-deductionService andissues

Annual 50%investment first-year allowances

BetweenThe 1Autumn AprilBudget 2021 andextended 31the Marchannual 2023,investment companiesallowance canprovisional claim£1 themillion newcap capitaluntil allowances31 forMarch qualifying2023. expenditureThe onextension newof plantthe andtemporary machinery.

Find£1 outmillion morecap aboutwas theoriginally newdue temporaryto taxrevert reliefsto £200,000 on capital1 assetJanuary investments2022, frombut this will now happen on 1 April 2021.2023.

The Corporation Tax online service will not be updated to supportreflect thethis newchange allowancesby until30 AprilJune 2022. IfYou can file online before the service is updated if you’re filing a return and you do not need to reportclaim thesethis newadditional reliefs,annual continueinvestment allowance.

Loans to fileparticipators

The onlineAutumn inBudget 2021 raised the normalrate wayof untiltax thecharged serviceunder issection updated.455 on loans to participators from 32.5% to 33.75% from 6 April 2022.

If

The youCorporation needTax online service will be updated to reportreflect athis super-deduction,change 50%by first-year30 allowanceJune or2022. balancingYou chargecan file online before Aprilthe 2022

Youservice canis updated if you’re filing a return and you do thisnot usingneed existingto capitalreport allowancesthis boxes.increase.

For

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FindSend outyour morepaper aboutreturn enhancedto:

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purposes only.

YouThe cannotfigure makein claimsbox toL129 will be the enhancedone capitalincluded allowancein usingbox thisL5 service.in your next Corporation Tax Self Assessment.