Corporation Tax
Your Corporation Tax Specialists
Please have a look below regarding our Corporation Tax services
Limited Companies.
New Clients. Incorporate now and receive:
FREE Company formation
FREE Tax Registration
Bookkeeping and payroll services provided
"To be or not to be, that is the question "
To incorporate or not to incorporate, that is the decision?
Since the reduction in the Corporation Tax rates, especially for the small companies rate from 21% to 20%, and the main corporation tax rate from 28% to 27% with effect from 1 April 2011, along with the increases in income tax for those with income over £150,000, should a business incorporate now or not?
So is incorporation worth itl? When deciding this it should be noted that there is still the issue of the second charge of taxation when it comes to extracting profits from a company by an individual or a director. If profits are extracted via dividends the tax rate is 25%, for those who already exceed the £150,000 higher threshold they will have a dividend tax rate of around 36%.
It is not an easy decision to make and should be carefully thought out and planned before incorporation.
Corporation Tax.
Corporation tax Rates are as follows:
Trading profits 20%
All Corporation Tax Returns must be filed by the due date. Failure to file on time will lead to surcharges and interest. A flat rate penalty may alos be charged. Contact us immediatley.
Directors Tax Returns – Most Company Directors are obliged to file a Personal Tax Return each year. Failure to file a return on time will lead to a surcharge.
Companies House Requirements.
Companies House maintains the record of all companies formed in the United Kingdom and lays down some very strict and rigid rules as to what documents a limited company must file each year. Every Director must be aware of these requirements as it can be a very expensive lesson if any of these documents are filed late.
Your Corporation Tax Specialists
