Is the tax that UK companies and certain organisations must pay to HMRC on their taxable profits for each accounting period. It applies to limited companies, foreign companies with a UK Branch, and some clubs or associations.

WHAT CORPORATION TAX COVERS

• Trading profits
• Investment income
• Chargeable gains

WHAT COMPANIES MUST DO

• Keep accounting records
• Prepare annual accounts
• Prepare and file company tax return(CT600)
• Work out the corporation tax due
• Pay corporation tax by the deadline
• File the company tax return