How much corporation tax to pay on £46K?
The inland revenue calculator is taxing full whack at 19%:
Financial Year Profits Rates Tax
2003 £46,000 19% £8,740.00 TOTAL £ 8,740.00 Corporation Tax Payable after marginal rate relief: £ 8,740.00Ignoring the free first £10K and banding:
Corporation Tax Rates 2003/04 Starting rate zero £0 - 10,000 Marginal relief * £10,001 - 50,000 Small companies rate 19% £50,001 - 300,000 Marginal relief ** £300,001 - 1,500,000 Main rate 30% £1,500,000 or more
Scrap that, I was entering "1" for associated companies, got the proper result now.
Does anyone have a clue how much NI payments would be due, if owned by just 1 person???????
NI is paid on salary
Phil
In article , GG writes
Don't forget that if the company pays dividends then (broadly speaking) the CT rate borne thereon will be 19%.
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