ICB Level 4 Certificate – Corporation Tax Returns (FRS105 + FRS102 (Section 1A)

ICB Level 4 Certificate – Corporation Tax Returns (FRS105 + FRS102 (Section 1A)

Course Fee Details

Course Code:


Course Fee:


You can pay the full price or pay a deposit of £110.00 (0% APR), followed by 4 monthly payments of £36.50

Advantages of studying with IDEAL:
Finance Year 2022/23
Corporation Tax Returns for Micro and Small Businesses under FRS105 and FRS102 (Section 1a)

This course covers one of the four Level 4 Certificate units that make up the Level 4 Diploma in Advanced Bookkeeping and Accounting. Covering taxation computations and submissions for Micro Entities and Small Businesses under Financial Reporting Standards FRS105 and FRS102 (Section 1A). Upon completion of this qualification you will be enabled to work in an employed or self-employed situation, submitting limited company tax returns in line with FRS105 and FRS102 (Section 1A)

Ideal Schools will provide:

Entry Requirements: Full Membership of ICB + ICB Level 4 Certificate in Financial Statements

This is one of the four Level 4 Certificate units, designed to provide you with a fuller appreciation of the creation and submission of financial statements for limited companies. Other Level 4 units to consider are:

ICB Course Sample – you can view the first 25 pages of this, and other ICB courses, via THIS LINK.

Associated Exams:


Exam Structure:

1 x home based examination

Study Time:

Approx 70-80 hours

CPD Status:

30+ hours structured & unstructured, meeting ICB annual suggested target


Total exam fees for this course option are £105.00. When it comes to paying for your exams you have two options:

Monthly Payment Notice

We do not charge interest for monthly payments. To cover costs of additional security measures recently implemented in the banking system, there is a £1.50 charge added to each monthly payments to cover the cost of applying these measures in our systems.

Underpinning Knowledge

Identify the duties and responsibilities of a tax agent: Understand that ICB expects its members to maintain a high ethical standard; Understand the requirements needed to act as a tax agent online with HMRC

Identify the elements of a Corporation Tax Computation: Explain the principle of a chargeable accounting period

Calculate Adjusted Trading Profits

Outline the purpose of adjusted trading profits and identify disallowable expenditure: Explain how profits are adjusted; Identify expenditure considered disallowable; Explain the treatment of dividends; Identify bad debts as an allowable deduction; Explain the treatment of interest payable on trading loans; Explain treatment of hire and lease charges; Identify income in the accounts but not taxable as trading profit.

Compute adjusted trading profit for the period: Correctly compute adjusted trading profit for accounting periods of longer or shorter than twelve months.

Capital Allowances – Plant and Machinery

Explain the nature and purpose of capital allowances: Distinguish between depreciation and capital allowances; Identify qualifying expenditure; Identify the main types of capital expenditure and the capital allowances available.

Prepare a computation for capital allowances: Prepare a computation for the following capital allowances (Expenditure not pooled, General or main pool, FYA – First Year Allowance, AIA – Annual Investment Allowance, WDA – Writing Down Allowances, Balancing Charges, Motor Vehicles v Motor Cars, Expensive Cars, Short Life Assets); Apply cessation rules for capital allowances in the closing years of business.

Calculation of Profits Chargeable to Corporation Tax

Determine profits chargeable to corporation tax: Identify adjusted profit and capital allowances; Explain the treatment of dividends paid; Explain the treatment of interest received and interest paid; Explain the treatment of (Royalties, Dividend Income, Property Income).

Determine the Corporation Tax Liability: Calculate profits chargeable to corporation tax; Apply relevant tax rates.

Complete a CT return: Complete elements of a CT return.

Gains, losses and reliefs

Explain the procedure for determining gains and losses: Apply Indexation allowance; Explain the following special rules (Enhancement expenditure, Part- disposals,Non-wasting chattels).

Distinguish between Trading and Non-Trading Losses: Determine adjusted trading losses; Apply types of loss relief (Current year relief, Carry back relief, Carry forward relief, Terminal Loss Relief), Calculate Non-Trading and Capital Losses.

Apply reliefs, deferrals and exemptions: Explain the principle of Entrepreneurs’ relief; Identify qualifying business disposals qualifying; Ownership period; and apply the relief; Apply the principle of Rollover relief (Conditions for relief, Partial reinvestment); Identify the principles of, and conditions for, gift relief.

Payment and Administration

Explain the process of payment and administration: Explain the process of Corporation Tax Self-Assessment; Understand how to (File the return, Amend the return, Deal with errors, Identify interest on late payment, Identify interest on tax overpaid); Explain the penalty process; Explain HMRC powers of enquiry, Identify the payment date and when payment by instalments is appropriate; Explain the records which companies must keep and the timescales for keeping them.

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