Limited Company Tax Explained

limited company tax explained

Understand what tax a Limited Company must pay, the rates in place and the tax implications of paying yourself from your LTD.

Annual Investment Allowance Explained

annual investment allowance explained

Find out about the annual investment allowance (AIA), the benefit it brings, what type of expenses qualify for it and how you claim it on your tax return, whether you’re registered as self-employed or have a Limited Company.

How to Calculate Corporation Tax

how to calculate corporation tax

In this guide, I’ll show you how to calculate corporation tax using an easy-to-follow example, along with where you can find more resources on how to reduce your corporation tax bill using allowances, reliefs and other adjustments.

Terminal Loss Relief Explained

terminal loss relief explained

If you own a Limited Company and, for whatever reason have decided to stop trading and made a tax loss in your final accounting period, then you may be able to use the rules of corporation tax loss relief to generate a tax refund.

Taxable Profits

Taxable profits are used to calculate tax. Adjustments need to be made to trading profits because certain expenses are treated differently for tax purposes. These types of expenses include: Depreciation Entertainment

HMRC Christmas Party Allowance 2018

Christmas Party Tax Allowance

If you are throwing Company Christmas Party then its worth making yourself aware of the HMRC Christmas Party Allowance.  It may well affect what you plan! You’ll be pleased to know that the Taxman is not immune to the spirit of Christmas and you might be able to record it as a company expense. However, … Read more

Associated Companies for Corporation Tax

associated companies for corporation tax

Until 31 March 2015 companies that crossed the small profits threshold paid a higher rate of tax. Associated companies made them more likely to cross the threshold and pay more tax.

Are Gifts to Business Customers Tax Allowable?

Business customer gifts tax allowable

Gifts to business customers are tax allowable however they must meet certain conditions as set out by HMRC: The gift must be no more than £50 per client per year; The gift must not be alcohol, food, tobacco or vouchers that can be exchanged for those things. A gift must contain your business logo or … Read more

When is Corporation Tax Due for a Limited Company?

when is corporation tax payable?

I’ve updated this post on 16 May 2020 There are two corporation tax due dates that you need to be aware of if you have a Limited Company. These are: Corporation tax payment is due 9 months and 1 day after the end of your accounting period; Corporation tax return is due 12 months after … Read more