Barbara Selkirk Qualified ACMA and ACIS   Accountant   offers  IT  expert proactive  accountancy  services  to   new  or  ongoing  small  businesses, sole traders, clubs  and small limited companies. 

 

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BSW Accounting Services

 

Ballards Place

Eardiston

Tenbury Wells

Worcs WR15 8JR

 

info@bswservices.co.uk

 

Tel : - 01584 814594

 

 

Corporation Tax Return – The Basics

 

Corporation Tax is a tax on the taxable profits of limited companies and other organisations including clubs, societies, associations and other unincorporated bodies.

 

Taxable profits for Corporation Tax include:

·                     profits from taxable income such as trading profits and investment
          profits (except dividend income which is taxed differently)

·                     capital gains - known as ‘chargeable gains’ for Corporation Tax
          purposes

If your company or organisation is based in the UK, you’ll have to pay Corporation Tax on all your taxable profits - wherever in the world those profits come from.

 

If your company isn’t based in the UK but operates in the UK - for example through an office or branch (known to HMRC as a 'permanent establishment') - you’ll only have to pay Corporation Tax on any taxable profits arising from your UK activities.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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