Residency status
You'll learn how to determine whether a company is UK resident for corporation tax purposes, and why this status fundamentally affects which profits are taxed. This lesson covers the two key tests: incorporation in the UK, and central management and control.
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In this lesson
- 0:00 Overseas aspects of corporation tax
- 0:41 Determining company residency status
- 1:35 UK resident company tax treatment
- 2:07 What counts as UK profits
- 3:01 Worked example: ABC and XYZ Limited
- 4:01 Decision framework for residency
About this lesson
You'll explore what "central management and control" means in practice—where the head office is located, where board meetings happen, and where major decisions are made—and discover how residency status determines whether a company pays UK tax on worldwide profits or only UK profits. Essential knowledge for spotting residency issues in corporation tax scenarios.
Duration: 5m
Transcript
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