Calculating Corporation / Business Tax
Earnings Tracker calculates how much corporation tax is due.
Corporation tax is a tax on a company's profits. For the fiscal year 2007-2008, for a business (limited company) with a profit of between £1 and £300,000, the rate is is 20%. For the fiscal year 2008-2009, the percentage is 21%.
Corporation tax is calculated at the end of every accounting year and must be paid to HM Customs and Excise within nine months of the financial year end.
|