As a limited company owner, your company is liable to pay Corporation Tax on its profits. All UK companies are liable to pay tax on their profits, regardless of where in the world these profits were accumulated. We have put together this guide for your to understand what corporation tax is, how to account for it, be able to calculate it and the corporation tax rates and allowances.
[continue reading…]
corporation tax rate
Reader’s question: As the sole director of my own company, if I pay myself £200 per week does this mean my corporation tax will be less? And what amount of dividends can I take?
Readers question: We have a small Limited Company with a gross turnover of £20,000. We have paid 20% tax on this figure (cis) leaving £16,000 after tax. We have one employee who has earned £12,000 gross. Are we entitled to a rebate and will there be corporation tax to pay?