Business Accounts & Tax Returns

If you run a business in the UK then you might need to submit a Company Tax Return and pay Corporation Tax on the profits that you make. Tax can be a tricky subject and that's the more reason we are here to make that job easy for you.

What is Corporation Tax?

Corporation Tax is paid by some UK businesses and organisations on the profits that they make. Profit is the amount of income left over once the business has paid all of its expenses.

Who needs to pay Corporation Tax?

Corporation Tax is normally payable by all limited companies incorporated in the UK. There are other organisations which might also need to pay it, even though they’re not incorporated (set up as a limited company):

• Members’ clubs, societies, and associations
• Trade associations
• Housing associations
• Groups of individuals carrying out a business (such as co-operatives)

Other types of businesses, such as sole traders and partnerships, won’t pay Corporation Tax. Instead, you’ll need to submit a Self Assessment tax return, and pay Income Tax on the profits that you make.