Corporation Tax

Log in to reply
X

xinghu

  • #1
    Hi

    How does Corporation Tax work? Is it a percentage of your sales you need to pay or a fixed amount for every company? I assume it is the percentage so that would imply if a company is not dorman but has no sales, then it would not need to pay Corporation Tax?

    If somebody could clarify please?

    Thank you
    Andrew
     
    MyAccountantOnline

    MyAccountantOnline

    Business Member
    Sep 24, 2008
    15,264
    10
    3,333
    UK
    myaccountantonline.co.uk
  • #6
    xinghu said:
    Thank you. What happens if the company did not make any profit?
    Click to expand...

    Bear in mind if the company has a loss it can use this to offset against future profits. Capital allowances may also increase the loss as well.
     
    Upvote 0
    B

    BudgetB

  • #10
    xinghu said:
    This is the first time I will be doing my Corporation Tax. Do you think I should seek advice from an accountant? I do have an accountant at the moment, but I don't feel confident. He is kind of laid back :p
    Click to expand...

    Maybe a new one would be a good idea! Or have a chat with him, laid back doesn't necessarily mean he doesn't know what he's doing.
     
    Upvote 0
    X

    xinghu

  • #12
    Thank you for all your help with Corporation Tax. I decided to let my accountant deal with everything. I don't really have the knowledge so it is better this way.

    Well.. everybody can't be good at everything now can they?

    LOL

    Andrew
     
    Upvote 0
    elaine@cheapaccounting

    elaine@cheapaccounting

    Free Member
    • Business Listing
    Nov 4, 2005
    13,090
    2,896
  • #13
    xinghu said:
    Thank you for all your help with Corporation Tax. I decided to let my accountant deal with everything. I don't really have the knowledge so it is better this way.

    Well.. everybody can't be good at everything now can they?

    LOL

    Andrew
    Click to expand...

    But you are good at making the right decision :):)
     
    Upvote 0
    Log in to reply

    Latest Articles

    Join UK Business Forums for free business advice
    Top Bottom
    Community
    Articles
    Menu