What is corporation tax?
Corporation tax is a tax on taxable profits of limited companies. Any limited company incorporated in the UK is subject to corporation tax requirements, as well as foreign-based companies with a permanent place of business in the UK. For more information, please refer to the HMRC: Introduction to Corporation Tax
When is corporation tax paid?
Corporation tax is due up to 9 months and one day after your trading year-end. Once your accounts have been filed, (we will prepare and file these accounts for you) you have the option to pay at any time during the period. There are penalties for late payments.
How is corporation tax paid?
In order to pay corporation tax you will need to refer to the guide at HMRC: How to Pay Corporation Tax. After paying your corporation tax, you should then record this payment in your Crunch account by selecting "New tax payment" from the "Tax" tab.
Click here for the current rates of Corporation Tax.