Corporation Tax is a Business Tax payable on the profits of a Limited Company. When it comes to Family Managed Businesses, Corporation Tax can be reduced by the following
- Director Salaries
- Mileage allowances for Directors
- Director Pension contributions
- Director Bonuses
- Director Use of Home as office
- Director Life Insurance
The above are expenses of the Limited Company which are Tax Deductible for Corporation Tax purposes. The timing of these expenses are important as well.
Please call us on 07879601780 to discuss about your Corporation Tax requirements.