Corporation tax inside IR35 Corporation tax inside IR35
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  1. #1

    Nervous Newbie


    Join Date
    Jul 2018
    Posts
    2

    Default Corporation tax inside IR35

    Hi folks,

    I have a simple question which I am struggling to find a clear answer to.

    I have a limited company. 1 client who pay me monthly. Private sector. The one contract falls inside IR35.

    Each month my accountant runs the IR35 calculation and I pay myself the 95% deemed payment as salary. I pay PAYE and NIC tax at this point.


    Am I right in thinking that I should only be liable for the other 5% when it comes to paying corporation tax?


    Many thanks

  2. #2

    Default

    Yes that is correct and there will be some business expenses that reduce the 5% for you such as accountancy fees and insurance.

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