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Business

Corporation Tax

Tax paid by UK companies on their profits.

Example

  1. 1

    Small companies rate is 19% on profits up to £250,000. Main rate is 25% on profits over £250,000.

Related terms

  • Employment

    National Insurance

    A system of contributions paid by workers and employers to fund state benefits and the NHS.

  • Allowances

    Personal Allowance

    The amount of income you can earn each year without paying income tax.

  • Self assessment

    Self Assessment

    A system where individuals report their income and pay any tax owed directly to HMRC.

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