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Corporation Tax

 

The Corporation Tax refers to the business tax that operates on the profits made by a limited company in the United Kingdom. This tax has to be paid to the HMRC twelve months after the end of the financial year.

This levy will be applied on the profit of any company that is operating in the UK territory. Branches and divisions of foreign companies doing business in the UK also need to pay the Corporation Tax on earnings from their UK activities. The economic scenario for company taxation in the UK seems to be bright. In fact, the British Government, in the years to come, will decrease the tax burden on businesses. In that case, it means that the UK promotes and focuses on companies’ expansions and future investments. In the 2018/2019 tax year, which runs from 1 April to 31 March of the following year, Corporation tax is at 19%.

Tab 1 Corporation Tax in UK

The tax will remain the same independently of the corporate profit volumes

2017/18

2018/19

19%

19%

Our team of experts offers a clear set of solutions and customised tax assistance as well as evaluating the best options for dealing with the Corporation Tax and the several obligations related to it.

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