MargeDoesTax Condon
Joined: 6/12/2024
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RDEC Scheme
I would like to inquire about the timelines for updating the Corporate Intangibles Research and Development Manual. CIRD89700 - R&D Expenditure Credit (RDEC) Scheme provides a discussion of CTA2009 Chapter 6A, which was omitted by Finance Act 2024. Is there a timeline for when such references in the Manual will be updated? -
Accounting for exchange losses on impaired loan
If a company loans money to its subsidiary, and the loan is impaired, what will be the tax treatment of any resulting exchange losses? Is there a difference depending on whether the loan is accounted for at fair value or under the amortized cost basis?