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   What taxes do small businesses have to pay?

   • The main taxes small businesses might have to pay are: We also look at: Corporation tax is basically income tax for limited companies – the way you pay tax on your business’s profits. If you’re a sole trader (self-employed) you’ll pay income tax instead, but we’ll look at this later.

   Business tax – a guide for small businesses - Simply Business UK

   www.simplybusiness.co.uk/knowledge/business-tax/business-tax/

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   What is the corporation tax rate for company profits?

   • The Corporation Tax rate for company profits is 25% You pay Corporation Tax at the rates that applied in your company’s accounting period for Corporation Tax. If your company made more than £250,000 profit, you’ll pay the main rate of Corporation Tax.

   Corporation Tax rates and reliefs: Rates - GOV.UK

   www.gov.uk/corporation-tax-rates

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   Do you pay corporation tax if you make a profit?

   • You pay Corporation Tax at the rates that applied in your company’s accounting period for Corporation Tax. If your company made more than £250,000 profit, you’ll pay the main rate of Corporation Tax. If your company made a profit of £50,000 or less, you’ll pay the ‘small profits rate’, which is 19%.

   Corporation Tax rates and reliefs: Rates - GOV.UK

   www.gov.uk/corporation-tax-rates

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   How are business rates paid?

   • Business rates are paid to the local authority where your business premises is located. Like council tax, most councils split the bill into 10 payments, to be paid over the course of 12 months. Most will accept various payment methods such as direct debit, paying by phone, online and at your own bank.

   Small business tax: what you need to pay - Which? Trusted Traders

   for-traders.which.co.uk/advice/small-business-tax-what-you-need-to-pay

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   What is a tax rate?

   • A tax rate is the percentage of tax payable on money within a particular range, known as a tax band. Income tax in the UK is worked out as a series of marginal bands, so you only pay the relevant tax rate on the part of your income which falls within that tax band.

   UK Tax Rates, Thresholds and Allowances for Self-Employed People and

   www.theaccountancy.co.uk/tax/uk-tax-rates-thresholds-and-allowances-for-employers-and-the-self-employed-in-2021-22-and-2020-21-2-2-2-51801.html

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   Is income tax a business tax?

   • Income tax is separately considered when thinking about 'business taxes'. Income is the money you receive personally and is paid under your own tax assessment, not the tax assessment of the business.

   I'm Running a Small Business, What Taxes Do I Pay? - UK Tax Calculators

   www.uktaxcalculators.co.uk/tax-guides/business-tax/running-a-small-business-what-taxes-do-i-pay/

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2. www.gov.uk › rates-and-allowances-corporation-taxCorporation Tax rates and allowances - GOV.UK

   www.gov.uk › rates-and-allowances-corporation-tax

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   Apr 4, 2024 · Corporation Tax rates. The rate of Corporation Tax you pay depends on how much profit your company makes. Rates for Corporation Tax years starting 1 April. There are different...

3. www.gov.uk › corporation-tax-ratesCorporation Tax rates and reliefs: Rates - GOV.UK

   www.gov.uk › corporation-tax-rates

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   Apr 1, 2016 · The Corporation Tax rate for company profits is 25%. You pay Corporation Tax at the rates that applied in your company’s accounting period for Corporation Tax. If your company made more than £...

4. www.gov.uk › guidance › tax-reliefs-and-allowancesTax reliefs and allowances for businesses, employers and the ...

   www.gov.uk › guidance › tax-reliefs-and-allowances

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   Oct 12, 2022 · Find out about tax reliefs and allowances available from HMRC if you run a business, employ people or are self-employed.

5. Videos

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     Effective Tax Rate: How It's Calculated and How It Works

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     Corporate tax in 5 1/2 minutes

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6. for-traders.which.co.uk › advice › small-businessSmall business tax: what you need to pay - Which? Trusted Traders

   for-traders.which.co.uk › advice › small-business

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   Feb 16, 2024 · The rate you pay will depend on your individual income tax - basic-rate taxpayers pay 10%, while higher-and additional- rate taxpayers pay 20%. If you're selling a property that's not your main home, the rate rises to 18% for basic-rate payers and 28% for higher- or additional-rate payers.

7. www.uktaxcalculators.co.uk › tax-guides › businessI'm Running a Small Business, What Taxes Do I Pay? | UK Tax ...

   www.uktaxcalculators.co.uk › tax-guides › business

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   Jul 5, 2019 · But wait, there's nothing to dread - small business tax is actually fairly easy to understand once you've got the basics together... and here are the basics. There are five categories of tax that apply. So, let's get started. Business Rates; VAT; Income Tax and National Insurance; Corporation Tax

8. www.simplybusiness.co.uk › knowledge › business-taxBusiness tax – a guide for small businesses

   www.simplybusiness.co.uk › knowledge › business-tax

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   Sep 16, 2024 · Which business taxes you’ll need to pay as a small business will depend on the structure you’ve chosen – either a sole trader (self-employed), limited company, or partnership, plus how well it’s performing and how you pay yourself as the owner.

9. www.theaccountancy.co.uk › tax › uk-tax-ratesUK Tax Rates & Thresholds | 2023/24 & 2024/25 - The Accountancy

   www.theaccountancy.co.uk › tax › uk-tax-rates

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   2 days ago · Our guide to business tax explains the tax brackets and rates for the 2024/25 tax year which starts 6th April 2024 and ends 5th April 2025. For comparison we also include last year’s 2023/24 rates from 6th April 2023 to 5th April 2024, as well as the rates for 2025/26 (6th April 2025 to 5th April 2026) which were announced at the Chancellor ...