UK corporation tax

What is the corporation tax rate?

Corporation tax is regulated by the Corporation Tax Act 2010 and other acts. Since 1st April 2015 the Corporation Tax is 20%.

What types of profits are taxed?

Limited companies and foreign companies with a UK branch or office must pay corporation tax on taxable profits. Taxable profits include trading profits, investments and chargeable gains from selling assets. A UK limited company pays Corporation Tax on all its profits from the UK and abroad. A foreign company with an office or branch in the UK pays Corporation Tax on profits from its UK activities

How to register for corporation tax?

HMRC usually sends the company’s Unique Taxpayer Reference 10 digits (UTR) to their registered office address, normally within a few days of the company being registered in Companies House. The company needs to set up an HMRC online account for Company Tax Returns and Corporation Tax using the information sent to it

What are deadlines for corporation tax payments and returns?

A limited company must file annual accounts with Companies House 9 months after the company’s financial year ends at the latest. A limited company with profits up to £1.5 million normally must pay Corporation Tax 9 months and 1 day after the company’s accounting period ends and file a Company Tax Return 12 months after the company’s financial year ends. For profits exceeding £1.5 million 4 equal instalments are normally required.