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Corporation Tax :
Soon after your company is formed at Companies House, HMRC will issue a form "Corporation Tax - New Company Details" - this will be sent to the registered office, so if this is not your address, check that this has been completed.
By completing this form HMRC will register your company for Corporation Tax, this is the tax payable on the company profits.
Corporation Tax is currently charged on profits at 21% for small companies.
Company profits are generally calculated by taking away the business expenses (salaries, travel expenses etc) from the turnover.
Tawanda EU offers this registration service free of charge to all new clients
There are several Corporation Tax responsibilities you have as a director, the main ones being:
- Complete a Corporation Tax Return every year - this is filed with HMRC together with a set of annual accounts, within 11months of the period end date.
- Pay any Corporation Tax due - this is payable in 9months (+ 1day) after the period end date
It is important that you get this right from the start, there are various penalties that can be incurred for not getting it right.
Tawanda EU are happy to take care of all this for you.
Contact the office for details
Tawanda EU Ltd Accountants
24, Milner Road, Gillingham,
Kent ME7 1RB,
UK
Phone + 44 787 296 2016
Email info  tawanda.co.uk
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