Online UK Corporation Tax, Contractor Tax & UK accountants

Online UK Corporation tax

Corporation tax in the UK can be defined as a tax levied on the taxable profits of limited companies and other organisations including clubs, societies, associations and other unincorporated bodies. We, at Conto Direct, help and guide our customers to pay less corporation tax in the UK on their income and profits. By paying corporation tax online, people can save their time as well as money.

Who are liable to pay corporation tax?

Companies or organizations situated in the UK are liable to pay corporation tax on all their taxable profits - wherever in the globe those profits come from. On the other hand, if your organization is not based in the UK, but getting operated in the UK, then you have to pay Corporation Tax on any taxable profits arising only from your UK activities. For reducing your corporate tax, you can deal directly with HMRC or take the help of Conto Direct to deal with corporation tax on behalf for your Corporation Tax affairs.

 Paying Corporation Tax in the UK  

If your company or organization is liable to pay corporation tax, then you must follow things such as:

·         Inform HM Revenue & Customs (HMRC) that you are liable for Corporation Tax

·         Pay the accurate amount of Corporation Tax on time

·         File a Company Tax Return and other related documents

 Contractor Tax

If you decide to contract via your own limited company, then you have to pay certain amount of money as a tax. This is called as contractor tax, which arises in two different forms, that which you pay through your organisation and that which you pay personally. If you violate the IR35 status of your contract, then you undoubtedly suffer higher tax. In order to remain outside IR35, you need to take the help of Conto Direct. This is because; the financial impact of being caught by IR35 on contractor's tax is harsh. Our assistance at economical rates play an important role in being not caught by IR35 on contractor's tax as we have IR35 assessment tool which determines whether you come under IR35 rules or not.

Conto Direct helps contractors with the most advanced, automated and online solutions for managing timesheets and payments that give instant access round the clock to transaction entry and information. Being a contract management company, it pays attention of all formalities and legal obligations for its associate contractors. In fact, our web platform is an exclusive web-hosted timesheet processing application. We specifically make tailored services that help contractors to generate and send invoices; examine payroll and accounting with a very high degree of automation, increasing competence and usefulness and eventually reducing contractors’ costs.   

 How much Corporation Tax to pay?

Your company or organization is liable to pay Corporation Tax on the taxable profits it generates in its Corporation Tax accounting period. An accounting period is defined usually the same as the period for which your company or organisation's accounts are prepared and generally lasts only for a year. It is advised to take the help of Conto Direct which is able to save your huge money paid as taxes.