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company tax

Corporation tax explained

When you set up a limited company, your annual profits will be subject to Corporation Tax.

Dealing with your corporation tax issues is one of your accountant’s key tasks. However, it is ultimately the directors of a limited who are responsible for ensuring that a company’s tax affairs are in order.

As a director of a limited company, you therefore need to make sure that your company’s corporation tax liability is accurate, your corporation tax return (form CT600) is filed with HMRC on time, and that you pay the corporation tax to HMRC when it falls due.

If you are setting up a limited company for the first time, here is a handy overview of how to comply with the corporation tax rules for UK companies.
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A lot of thought goes into choosing the right company cars, or vehicles for your business. In finding the right vehicle for your needs, you need to take into account a whole host of factors, including, cost, availability, reliability, your brand image, and emissions.

In recent years electric cars have become more and more commonplace for environmentally aware drivers. Boasting zero emissions, a silent cockpit and advanced technology, they certainly possess some attractive qualities – but are they right for the day-to-day needs of you and your business?

If you’ve found yourself asking this question, these are some of the key issues for you to weigh up if you are considering buying an electric company vehicle: Continue…

Running your own business sometimes seems to be a series of successes followed by setbacks.

You win a big client, then lose an existing client. You hire the perfect employee and their current employer offers them more money to stay. You make a nice fat profit, and the taxman comes along and takes 20 per cent of it! Talk about three steps forward, two steps back.
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In a way, HMRC expects very little of limited companies regarding Corporation Tax. All it asks is that as a director of the company, you comply with all tax laws, fill out your company tax return correctly, file it on time and pay up on time.

Sounds simple. But of course there are lots of different laws and conditions to comply with, and plenty of mistakes to be made.
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