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Ring Fenced Profits

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    Ring Fenced Profits

    Take it easy on me guys because this is my first post.

    Could someone please help me with giving me and explanation as to the phrase 'Ring Fenced Profits' means, I am referring to corporation tax.

    Cheers in advance

    #2
    Originally posted by rougebot View Post
    Take it easy on me guys because this is my first post.

    Could someone please help me with giving me and explanation as to the phrase 'Ring Fenced Profits' means, I am referring to corporation tax.

    Cheers in advance
    I think the ring fence part refers to making sure you have enough £ in the ltd account to pay the ct on the profit.

    So for example you have £100k profit after VAT, expenses and running costs. You then need to pay corp tax on the £100k so 20% of £100k is £20k ct to pay, its this £20k I assume you need to ring fence the remaining £80k can be taken out of profit, which you then use to pay for MP 2nd homes

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      #3
      Originally posted by rougebot View Post
      Take it easy on me guys because this is my first post.

      Could someone please help me with giving me and explanation as to the phrase 'Ring Fenced Profits' means, I am referring to corporation tax.

      Cheers in advance
      Ask Cap'n Jack about "Ring Fencing" - sounds like some sort of gay practice.
      Hard Brexit now!
      #prayfornodeal

      Comment


        #4
        Originally posted by sasguru View Post
        Ask Cap'n Jack about "Ring Fencing" - sounds like some sort of gay practice.
        Involving the placing of a fence post up the a**

        Comment


          #5
          It's an oil & gas thing isn't it?

          Ring-fenced profits are profits derived from oil or gas production in the UK or on the UKCS, and there's a special corporation tax regime applied to them. There's a little bit about it in this week's Spectator magazine, by an amazing coincidence.

          I doubt many people on CUK have to worry about them!

          Comment


            #6
            Originally posted by thunderlizard View Post
            I doubt many people on CUK have to worry about them!
            Quiet. What CUK people are worried about is the kind of victories the French people have achieved

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