Corporation tax

[morsing]

Hi, I only started contracting in April last year. I'm just wondering if I'll be asked to pay corporation tax this year of if it's not till next year? Also, if this year when will it be and can I estimate how much?

Thanks,
Henrik Morsing

[Cooperinliverp00l]

Hi, I only started contracting in April last year. I'm just wondering if I'll be asked to pay corporation tax this year of if it's not till next year? Also, if this year when will it be and can I estimate how much?

Thanks,
Henrik Morsing

I too started LTD co last april and i was under the impression you normally have quite a lot of time to pay up i'm talking months and months but know exactly off the top of my head

[r0bly0ns]

Due 9 months after company year end I believe.

[malvolio]

Due 9 months after company year end I believe.

Correct, and use 20% of gross profit if you want to work out an estimate for this year (it was 19% last year and is going up 1% a year until 2010 - at the moment)

[Dow Jones]

Numptie

[QUOTE=morsing;424388]Hi, I only started contracting in April last year. I'm just wondering if I'll be asked to pay corporation tax this year of if it's not till next year? Also, if this year when will it be and can I estimate how much?

CT has nothing to do with the tax year (to Apr). Payments (and accounts) are due up to 9 months after the anniversary of your company formation. Have you got an accountant and if so, why don't you ask him?

[morsing]

CT has nothing to do with the tax year (to Apr). Payments (and accounts) are due up to 9 months after the anniversary of your company formation. Have you got an accountant and if so, why don't you ask him?

Thanks, that's what I was curious about.

I've got an accountant yes (*sigh*) and asking him stuff is going into a black hole I think... Yeah, I know, I need to find a new one...

[Tensai]

I've got an accountant yes (*sigh*) and asking him stuff is going into a black hole I think... Yeah, I know, I need to find a new one...

Any guesses on how long before Matthew at SJD jumps in?