MyCo financial year ended last sept, which means that I have abt nine months to finalise my accounts and pay the CT..The CT rate will be reduced to 20% from April 1, 2011 - Does this mean if I hold on paying the CT until April 2011, I can choose to pay the tax at the reduced rate, thus saving myco 1% on it's profits?
-
-
I think you'll find that CT is levied at the rate in force at your year end...Originally posted by explorer View Post
Blog? What blog...?
-
It'll be 21% of your adjusted profit for the year end September 2010. Next year end your adjusted profit will be subject to CT rate of 21% for 6 months and 20% for the other 6 months.Comment
-
So its pro rata'd yes? Even if you make all you profit in the final three months(Think christmas retailers here for a sec) its still pro ratad?Originally posted by Craig@InTouch View PostComment
-
Yes, profits at end of company year are apportioned to the fiscal years starting april 1 purely by days, makes no difference when money was actually earned or when it is paid.
If you search HMRC site you should find examples and a calculator.bloggoth
If everything isn't black and white, I say, 'Why the hell not?'
John Wayne (My guru, not to be confused with my beloved prophet Jeremy Clarkson)Comment
Comment