Corporation Tax

The Profit and Loss Account – What You Should Know?

A company's Profit and Loss Account reflects the company's financial performance in terms of earnings and losses over a specified period. The duration can be monthly, quarterly, or even an entire fiscal year. Moreover, a business's standard Profit and Loss Account format is usually prepared as a chart. These charts typically include net profit, profit margin, expenses, and...

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Penalties for missing your corporation tax deadline

Corporation tax late filing penalties are applied when companies fail to file their tax return by the official deadline. Even filing just one day late will land you with a fine of £100 from HMRC. The HMRC penalties increase with time, and failing to address the situation will cause a great deal of money and stress, as well...

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How to pay your corporation tax online

We’ve had a few clients that have contacted us to ask us how to pay their Corporation tax online. So we thought it would be a great idea to walk you through the process step-by-step! 1. Simply Type 'Pay corporation tax online' into google. Click the first link that appears which is titled 'Pay your Corporation Tax bill' https://www.gov.uk/pay-corporation-tax ...

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