Find out how much your small business will be sending to the tax man with our simple corporation tax calculator for UK businesses in 2019 / 2020.
Yes, that’s right, more tax 😄. You pay more tax when you have more revenue. So to pay more tax, you need more revenue. To increase your company’s revenue you need to increase your sales and profit margins. That’s where Reldesk can help.
The Corporation Tax main rate (excluding ring fence profits) is currently at 19% for 2019/20 and has been for years starting 1 April 2017, 1 April 2018 and 1 April 2019.
For the tax year starting 1 April 2020 it will be reduced from 19% to 18%.
It’s a tax on company profits and is paid every year, based on your company tax accounting period. It’s also usually your company’s financial year.
In some ways, corporation tax is to businesses what income tax is to individuals. As a small business you pay corporation tax on net profits by generally doing the business, but also investing and selling assets as a company.
The HMRC have more information on corporation tax rates, registration and more.
Yes, personal service companies such as contractor limited companies are required to pay it on their profits.