Corporation Tax is the tax that limited companies and some other organizations pay on their profits. If your company earns money from trading, investments, or selling assets, it will likely owe Corporation Tax to HMRC. The rate can change from year to year, so it’s important to check the current percentage and file your company’s tax return on time to avoid penalties.
« Back to Glossary Index
Tax Guide UK Editorial Team: Our team of financial writers, tax researchers, and editors is dedicated to making UK tax easier to understand — and easier to manage. Every article is thoroughly researched, regularly updated, and written in plain English to help you stay compliant and confident.View Author posts