Guide: Corporation Tax - The Essentials

Worrying about tax is a distraction. The trick is to get clear on the tax rules from the start and set up a system that lets you manage your tax affairs correctly and efficiently. Then you’ll be free to focus on building your business.

As a UK resident company, you’ll be operating under the Corporation Tax Self Assessment (CTSA) regime. This makes notifying the tax authorities about your business, filing a return and paying your tax on time your responsibility.

Corporate Tax - Key Questions:

1. Where do I begin with corporation tax?
2. How do I file my tax return?
3. When do I file my tax return?
4. How will I know if HMRC is happy with my return?
5. What rate is corporation tax charged at?
6. How do I work out how much tax there is to pay?
7. What happens if I’m not making a profit?
8. When will I have to pay any tax due?
9. What records do I need to support my tax return?

To download the Corporation Tax - The Essentials by KPMG Small Business Accounting, click here