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u11It’s important to ensure that you calculate how much corporation tax your company owes, and it’s also very important to make sure you pay any liabilities on time. Late payment of corporation tax can lead to fines and other penalties, so it makes sense to address your corporation tax as soon as possible, don’t wait until the last minute

 

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What is corporation tax?

Corporation tax is paid by limited and public companies. Corporation tax is levied on any profits that your company makes during the financial year. Your total turnover minus costs leaves the profit figure, it’s on this figure that you’ll pay corporation tax. Even if you only owe a small amount of corporation tax, it’s extremely important to ensure it’s paid off in full.Corporation tax is completely separate to other forms of tax like PAYE, VAT and IHT. It must be paid directly to HMRC before the due date.

 

 

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Talk to us now about corporation tax

We can help to ensure that you calculate corporation tax liabilities on time, and that you pay the correct amount owed. Just pick up the telephone now and dial 0333 666 7121 now please email us at info@1to1accountants.com and we’ll be glad to assist you.

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