Module 3 - Corporation Tax Flashcards
1
Q
What is the rate of corporation tax?
A
19%
2
Q
What does corporation tax apply to?
A
Income and realised capital gains of incorporated businesses
3
Q
How much is the tax free allowance for corporations?
A
There is none
4
Q
Do dividends attract NICs?
A
No
5
Q
How long can a company have to amend their self-assessment?
A
24 months from the end of the trading period
6
Q
How long does a corporation have to draw up a tax return and pay corporation tax?
A
9 months and 1 days after the end of the Accounting period - in this case the trading year of the business
