The other main reliefs from corporation tax are:

(a) charges, i.e., interest, annual payments and royalty payments (s 243),

(b) interest on money borrowed to invest in another company (s 247), but such relief is denied in the case of lending between connected companies if there is a mismatch between interest lent and claimed,

(c) investment in films (s 481),

(d) investment in renewable energy (s 486B),

(e) expenditure on research and development (s 766) – this amounts to a 25% tax credit against your corporation tax liability and you can claim repayment of up to 33% of unused tax credit not fully used in the first accounting period,

(f) gifts to approved bodies and charities (s 848A), and

(g) gifts to approved sports bodies to fund capital projects (s 847A).