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• 05.19.09
  Corporation tax: an overview Corporation tax | (0)

  Corporation tax is paid by limited companies on their taxable profits. You must pay it within 9 months of the end of your company's corporation tax accounting period (although you get an extra 3 months to file your corporation tax return). Your corporation tax accounting period You pay corporation tax on the taxable profits you earn in each corporation tax accounting period. This is usually a 12-month period that matches your company's financial year - although they can differ when you start up (when your corporation tax accounting period may be longer than 12 months) or if you change your financial year dates. Your taxable ...

  Tagged: Corporation tax, tax
  
• 05.12.09
  Tax: limited company vs self employed Company, partnership or sole trader | (4)

  One of the key questions is which way you'll pay less tax and national insurance - by being self-employed or as a limited company. The questions isn't that simple (it costs more to run a limited company, for a start), and there are other considerations, such as your personal liability for the business's debts. But a limited company is likely to give you more flexibility to pay yourself in a tax advantageous way. That's because if you're self-employed as a sole trader, YOU are the business. If your business is a limited compnay, it is seen as a separate legal entity. With a ...

  Tagged: limited company, NI, self employment, tax