A Limited Company must pay Corporation Tax on its taxable profits.
Corporation Tax may also apply to unincorporated associations and foreign companies with an office in the UK.
Taxable profits include the money your company makes from:
doing business (‘trading profits’)
investments
selling assets for more than they cost (‘chargeable gains’)
If you are starting a Limited Company you must register for Corporation Tax within 3 months of your business commencement date..
You don’t get a bill for Corporation Tax - you have to work out how much your company owes. You report Corporation Tax after you pay it, by filing a Company Tax Return.
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