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Setting up a limited company - Corporation Tax

Corporation Tax is a tax on the taxable profits of limited companies. So if you're thinking of setting up a limited company this will certainly apply to you.

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Taxable profits for Corporation Tax include:

  • Profits from taxable income such as trading profits and investment profits
  • Capital gains - known as 'chargeable gains' for Corporation Tax purposes

If your company is based in the UK, you'll have to pay Corporation Tax on all your taxable profits - wherever in the world those profits come from.

Corporation Tax rates

Corporation tax is charged at 19% of a Company’s Taxable Profits

If your company is subject to Corporation Tax requirements you must:

  • Tell HMRC that it is liable for Corporation Tax
  • Pay the right amount of Corporation Tax on time and electronically
  • File a Company Tax Return and supporting documents online and in a particular format

There are different deadlines for each of these requirements. If you do not meet those deadlines, your company may be charged interest and/or penalties. Genie Accountancy will make sure that all these formalities are taken care of – all you need to do is approve the various documents as we send them to you.

Generally you must:

  • Pay by nine months and one day after the end of your company Corporation Tax accounting period
  • File by 12 months after the end of your company Corporation Tax accounting period

For example, if your company financial year runs from 1st April 2018 to 31st March 2019, and your Corporation Tax accounting period is the same, you must:

  • Pay your Corporation Tax for that period by 1st January 2020
  • File your Company Tax Return for that period by 31st March 2020

Our specialist, contractor accountants can go over corporation tax with you in further detail, give them a call on: 01296 468 185 or email .

Why Orange Genie Accountancy?

Orange Genie Accountancy offers fixed fee accountancy packages to contractors and freelancers. Each client has unlimited access to their own dedicated approachable and friendly accountant. All Orange Genie Accountancy accountants are specialists in the contracting market, so they can give you bespoke, high quality advice.

We will always keep you informed about anything that could affect you and your company. Our relationships with our clients are extremely important to us so we'll be in touch often, whether it be face to face, over the telephone or email.

Our packages start at £75 + VAT a month for an online service. Our most popular package is £120 + VAT a month which provides you with your very own dedicated accountant as well as:

  • Unlimited accountancy support
  • Face to face meetings so we can get to know you and understand your contracting goals
  • Proactive contact
  • Director and employee payroll
  • Annual Return
  • Self-Assessment Return
  • A fully compliant service so you are safe in the knowledge that you are meeting your legal obligations

​And much more, includingaccess to wealth management advice, IR35 reviews and pensions planning. 

If you would like to appoint Orange Genie Accountancy as your accountants please either fill out our enquiry form or give one of our friendly expert accountants a call on 01296 468 185 or email

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