An Introduction to Corporation Tax
- Price: £3.60
- Published: March 2017
- Type: Business Information Factsheet
- Format: PDF
Corporation tax is charged on the taxable profits of limited companies, as well as on those of some clubs, societies, associations and co-operatives. However, it does not apply to sole traders or partnerships.
This factsheet provides an introduction to corporation tax for private limited companies. It covers what corporation tax is, how to set up the corporation tax process with HM Revenue & Customs (HMRC), and company responsibilities under corporation tax self-assessment.
The rules surrounding corporation tax are complex and this information is intended only as a starting point to understanding the issues involved. It is essential to seek professional advice to ensure that obligations are met and the right amount of tax is paid.