Corporation taxes – what you need to know

Corporation taxes – what you need to know

UK universities are able to benefit from a range of very generous statutory exemptions from corporation tax on chargeable gains and income – and in practice, most universities do not pay any corporation tax. There is, however, an obligation to analyse income sources, calculate any profit or loss arising, and if necessary, file a corporation tax return, and perhaps other statutory returns with HMRC.

This practical one day course is suitable for anyone responsible for tax within their university, including tax managers, VAT managers, or accountants. For the first time we are able to combine our classroom based courses with pre-work from our relevant e-learning courses from our new BUFDG Pro service to increase the breadth and depth of learning provided and to improve the experience of members using BUFDG training.

The corporation tax learning experience of the e-learning and classroom course will cover, among other things:

• A review of how corporation tax works (compared to VAT)
• A clear summary of what is exempt and what is not
• Guidance on how to calculate the profits or losses arising on non-exempt income
• Guidance on how to use and manage subsidiary companies
• An overview of the possible tax implications of non-UK activities
• Guidance on developing processes to manage corporation tax compliance

Pre-requisite e-learning:  The BUFDG Pro module ‘Intro to Corporation Tax in Higher Education’ will be a pre-requisite for this classroom based course, as it is a great foundation for the one-day course. (For those in universities who do not subscribe to BUFDG Pro, access to the module will be arranged for one week to enable you to undertake this pre-course work – an additional course fee applies in these circumstances.)

Content of classroom course: The course will further develop the basic concepts introduced in the e-learning module, illustrate some of the situations peculiar to the HE sector, and highlight the areas of difficulty where you may need to take additional advice. It will include practical exercises and provide plenty of opportunity for questions and discussion.

Intended Audience: This course is aimed at those responsible for dealing with corporation tax calculations and returns in universities, and would benefit anyone new to dealing with corporation tax, or anyone with corporation tax experience but new to the HE sector.

Date & Venue: The course will be held on 3 March at Friends House in London (map here).

Cost: £300 per delegate, inc. VAT. (Or £350, inc. VAT, for delegates from HEIs that don’t subscribe to BUFDG Pro).

Presenter: The course is written and presented by Harriet Latham from The Open University. Harriet is a Chartered Tax Adviser. She has a wealth of experience as a university tax manager, having worked in two universities and for BUFDG. She also led the team who wrote the second edition of the Corporation Tax Guidelines for universities.

Coffee/registration will be available from 9.30am ready for a 10.00am start and an approximate 4.30pm finish.  Buffet lunch is included.

Please note this event is for BUFDG members only.  If you have a query about whether you are eligible to book a place, please email Gill (gill@phes.ac.uk)