<div id="pl-124"  class="panel-layout" ><div id="pg-124-0"  class="panel-grid panel-no-style" ><div id="pgc-124-0-0"  class="panel-grid-cell"  data-weight="1" ><div id="panel-124-0-0-0" class="so-panel widget widget_sow-editor panel-first-child panel-last-child" data-index="0" ><div class="so-widget-sow-editor so-widget-sow-editor-base">
<div class="siteorigin-widget-tinymce textwidget">
	<p>Corporation Tax is a tax on the taxable profits of limited companies and other organisations including clubs, societies, associations and other unincorporated bodies.</p>
<p><strong> Corporation Tax Rates: 19%</strong></p>
<p>You must pay Corporation Tax on profits from doing business as:</p>
<ol>
<li>A limited company;</li>
<li>Any foreign company with a UK branch or office;</li>
<li>A club, co-operative or other unincorporated association; e.g. a community group or sports club.</li>
</ol>
<p>You don’t get a bill for Corporation Tax.</p>
<p>There are specific things you must do to work out, pay and report your tax.</p>
<ol>
<li>Register for Corporation Tax when you start doing business or restart a dormant business;</li>
</ol>
<p>Unincorporated associations must write to HMRC.</p>
<p>2. Keep Accounting records and prepare a Company Tax Return to work out how much Corporation Tax to pay.</p>
<p>3.Pay Corporation Tax or Report to HMRC if you have nothing to pay by your deadline</p>
<p>- this is usually 9 months and 1 day after the end of your ‘accounting period’.</p>
<p>4.File you Company Tax Return by your deadline- this is usually 12 months after the end of your accounting period.</p>
<p>Your Accounting Period is normally the same 12 months as the financial year covered by your annual accounts.</p>
<p> </p>
<p>Corporation Tax is payable on:</p>
<p>Taxable profits which include the money your company or association makes from:</p>
<ul>
<li>doing business (‘trading profits’)</li>
<li>investments</li>
<li>selling assets for more than they cost (‘chargeable gains’)</li>
</ul>
<p> </p>
<p>If your company is based in the UK, it pays Corporation Tax on all its profits from the UK and abroad.</p>
<p>If your company isn’t based in the UK but has an office or branch here, it only pays Corporation Tax on profits from its UK activities.</p>
<p> </p>
</div>
</div></div></div></div></div>