How to Minimize Corporation Tax?

[AZZIK]

Hi All,

would like to have expert advice on how to minimize the CT. i have recently finished 1st year of my company, and got companies account from accoutant today. Apart from pension what other options are available to minimize this tax?

-Thanks
nav1

Go back to being a permie

[Fred Bloggs]

You can pay zero corporation tax. Just pay everything out of the company to yourself as salary. HTH.

[MikeC1408]

Generally, it's 21% of your profit.

Quality

[Andy2]

Blow it all on shiny cars,mac computers, fast women, expensive holidays
and put it all on the company account

[denver2k]

Blow it all on shiny cars,mac computers, fast women, expensive holidays
and put it all on the company account

[basshead]

Did he mean fat?

[Lumiere]

.. fast cars .. shiny women ?

[FarmerPalmer]

There are just 2 certainties - death and taxes - and you can't avoid either.
If you make money then you pay tax - that is the deal.

Take turnover, deduct Salary & employers NI, pension, and legitimate business expenses - the rest is profit - and you pay corporation tax on it.

[FarmerPalmer]

Did he mean fat?

I hope not ... but each to their own.