Thanks.
Going to start doing it all properly from now on.. and try and back track the mess of the last 3 months!
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Reply to: Corp tax before or after salary/IT/NI?
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Previously on "Corp tax before or after salary/IT/NI?"
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Yes, you're right.. the first option. Corp tax is only paid on company profit after salaries, expenses etc etc (but not dividends) have been deducted.
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Corp tax before or after salary/IT/NI?
Quick question about salary and corp tax?
Is salary/income tax/NI a company expense that occurs before or after corp tax?
IE:-
Gross income ----expenses – salaries/income tax/NI --- corp tax on the remaining profit
Or
Gross income ----expenses ---- corp tax ----salary/income tax/NI ?
I’m pretty sure it’s the first option as when I was learning about reading company financial statements for learning about stock investing salaries came under operating expenses.
Just want to be sure as I’m crossing the Ts and dotting the I’s ready for my quarterly PAYE/NI payment.Tags: None
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