What is Corporation Tax?
Jun 16th, 2008 | By James Green | Category: Accounting for the Money, UK Business TaxesCorporation tax is the tax paid by companies on their profits. Unincorporated organisations (such as clubs and societies) also pay corporation tax, if they have taxable income.
Partners in both traditional and limited liability partnerships and sole traders pay income tax instead.
Companies are taxed on the profits made in an accounting period - normally their financial [...]