Increase in company late filing penalties

After the end of its financial year, a private limited company must prepare full annual accounts and submit a company tax return. In most cases, the tax return must be filed within 12 months of the end of the accounting period it covers, and filing must be completed...

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%....

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...

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,...