Corporation Tax

[fattony]

Hi

I think Im correct in saying that corporation tax is 22% but how much profit are you allowed to make before paying corporation tax?

Thanks

 

[oldeagleeye]

The first 4.5p but only because HMRC can't collect less than a 1p now the farthing has gone

 

[David Griffiths]

21% at the moment.

Going up to 22% from 1 April 2010. Unless they change their mind and it goes up more, or less, or down, or earlier or later. None of which would surprise me.

And as the Eagleman says, it's levied on all chargeable profits, but in practical terms you'd have to make a whole £1

 

[elaine@cheapaccounting]

David - did you not watch the PBR last week.

It remains at 21% for small companies

 

[David Griffiths]

David - did you not watch the PBR last week.

It remains at 21% for small companies

Oops! No I didn't, and as I spent the weekend away I'm behind with the reading. Thanks.:redface:

I never watch the actual budgets or PBRs on grounds of excess tedium, but catch up on the press later on

 

[elaine@cheapaccounting]

Oops! No I didn't, and as I spent the weekend away I'm behind with the reading. Thanks.:redface:

that will teach you to have a life outside of tax

 

[dp0848]

that will teach you to have a life outside of tax

There is more to life than tax?????

 

[David Griffiths]

There is more to life than tax?????

Wearing stockings and flirting, according to Zeno.

I assume that he means you. You probably assume that he means me!

 

[dp0848]

Wearing stockings and flirting, according to Zeno.

I assume that he means you. You probably assume that he means me!

Okay, I confess, it was me in the stockings.