Accounting and Taxation: UK

This is the author accepted manuscript. The final version is available from Wolters Kluwer via the link in this record.In general, corporation tax is levied on companies resident in the UK and on other companies on their profits generated in the UK. The tax base of a company is the company’s income and chargeable capital gains calculated in accordance with the relevant legislation, case law, administrative statements of practice and extra-statutory concessions. The primary legislation relating to corporation tax was formerly found in the Taxes Act 1988. This has now been rewritten as part of the Tax Law Rewrite project set up to make tax legislation “clearer and easier to use, without changing or making less certain its general effect” and is now included in the Corporation Tax Act 2009, the Corporation Tax Act 2010 and the Taxation (International and Other Provisions) Act 2010 though other legislation may also be relevant