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Corporation Tax: who is liable?

If your business is based in the UK, you will have a hard time denying your obligation to pay corporation tax.

If your company is registered in the UK then you will be subject to UK coporation tax, regardless of where the majority of your profits in the world are generated. If your company is registered and headquartered abroad but has a UK office or branch, then only your profits generated in the UK will be taxable.

There is currently a 'small profits rate' of 20 per cent and a main rate of 23 per cent. You can qualify for the smaller rate if your profits do not exceed £300,000.

For more information on Corporation Tax and how to file a return please click here.

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