Corporation Tax for limited companies

tax

Companies pay corporation tax (CT) which is based on complex tax laws. Again we can help you with the preparation and filing of CT return.

FAQs

Q: What is the deadline to file a CT return?
A: 12 months after year-end but any CT liability has to be paid earlier.

Q: Are dividends considered as an expense for the company?
A: No, dividends are paid post-tax profits and reserves.

Q: What if my director loan account is overdrawn at year-end?
A: There are certain rules when it comes to overdrawn director loan account at year-end. Generally, it has to be settled within 9 months after year-end to avoid further CT charge which is refundable eventually on the settlement of overdrawn director loan account.

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