Corporation Tax 19% or 25%?
If your company profits sit between £50,000 and £250,000, marginal relief can soften the jump from 19% to 25% Corporation Tax.
The Corporation Tax main rate applies to companies with taxable profits above £250,000 and is currently set at 25%. Companies with profits of up to £50,000 are subject to
Creative Industry Corporation Tax reliefs
If your business works in film, TV, games or the arts, Creative Industry Tax Reliefs could reduce your Corporation Tax bill and may even generate a payable tax credit.
Creative Industry Tax Reliefs (CITR) are a range of UK Corporation Tax reliefs designed to support companies operating in the
Reliefs and allowances for Corporation Tax purposes
Companies can reduce their Corporation Tax bill through a range of reliefs, including R&D credits, Patent Box, and creative industry tax reliefs, all of which will help to lower the overall tax on profits. Your company can also claim capital allowances for assets such as equipment, machinery and
Register an offshore property developer for Corporation Tax
Non-UK resident companies that buy, develop, or sell UK land must register for Corporation Tax within three months of a disposal.
Those non-UK resident companies that deal in or develop UK land must register for Corporation Tax if their activities involve acquiring or developing property with the
How to pay corporation tax online
Paying Corporation Tax? Always use the correct reference or risk delays and penalties.
To pay Corporation Tax via online or telephone bank transfer, you can use either a UK or overseas bank account.
UK Bank Accounts
You can transfer funds using Faster Payments, CHAPS, or Bacs, either online or by
Corporation tax roadmap
With a £50bn shortfall looming, the Chancellor may need to revisit last year’s Corporation Tax roadmap commitments.
As this year’s Autumn Budget approaches, it is an interesting time to revisit the Corporation Tax Roadmap published alongside last year’s Budget on 30 October 2024.
The roadmap sets
Transfer pricing consultation
New UK transfer pricing rules could mean more reporting and fewer exemptions for mid-sized businesses. The government is consulting on proposals to tighten compliance and align with global standards. One key change would remove the transfer pricing exemption for medium-sized enterprises, keeping it
Present rates of Corporation Tax
Corporation Tax rises with profit levels. Marginal relief bridges the gap, easing businesses from the 19% small profits rate to the 25% main rate.
The Corporation Tax Main Rate applies to companies with profits exceeding £250,000 and is currently set at 25%. For companies with profits up to
Definition of R&D for tax purposes
When claiming tax relief or capital allowances on R&D, it’s crucial to ensure activities meet strict statutory definitions. Understanding Section 437 ITA and DTI guidelines is key to securing legitimate tax benefits and avoiding costly mistakes.
An activity is generally considered as R&D if
Tax refunds for dissolved companies
Dissolving a company ends its legal existence — but unresolved assets become property of the Crown under bona vacantia. Directors must act carefully to settle assets and liabilities before dissolution, avoiding costly mistakes and lost opportunities.
Dissolving a company is a formal legal