Have Tax Questions? Ask a Tax Expert for Answers ASAP
Thank you, XXXXX XXXXX as I can tell I qualify, but my question is I'm not sure if I'm missing something. Is it as simple as choosing the lower rate if I qualify, or do I need to do anything else? Is this for special cases, or for all small companies with low profit?
Unless your company has made more than £300,000 in profit or is associated with other companies in which case the £300,000 limit is divided between them, your company will pay CT at 20% on it's profit of £100.I complete CT600s every day. The are far simpler than personal tax returns. especially if you use commercial software which usually only requires a few figures with the accounts being attached to it. The HMRC software requires you to put every figure from a set of accounts into a box.