Corporation Tax Problems

At times you may struggle to pay your Corporation Tax. Particularly in this economy, many businesses are tempted to ‘dip into’ funds that should have been set aside to pay tax liabilities. It may seem easy to say this in retrospect but when times are difficult and you need to settle with demanding creditors as cash flow pressures can mount up all too quickly.

If your business has taxable profits of up to £1.5 million, you have nine months and one day after the end of your Corporation Tax accounting period to make your payment. Where your business has taxable profits of more than £1.5 million, Corporation Tax is due to be paid earlier, normally in four instalments.

The Time To Pay concession from the UK Government whereby firms can delay payments for such taxes as VAT, Corporation Tax and pay-as-you-earn income tax is coming to an end. If you are finding it difficult to pay your Corporation Tax bill, make sure you contact TaxProblems.co.uk first.

Simply contact one of our highly experienced senior Tax Problems advisers on FREEPHONE 0800 622 6096 or email solutions@TaxProblems.co.uk.