Business Tax or also known as Corporation Tax is for limited companies and we have over 200 limited companies that we manage here at Morgan Wells in Baildon. This ranges from small to medium sized companies.
We take pride in working with our clients from across the country from Edinburgh through York down to Baildon and across to Bradford, Leeds & Sheffield right down to the Isle of Wight.
Not only do we look at the figures, we help with interpreting what this means as a business owner and what you can do to improve your profit margins and how to make you the most tax efficient.
At the moment with the Tories in power Corporation Tax is hopefully going to continue to reduce from 19% downwards to 17% but this could all change if the government changes.
Why a Limited Company?
- Limited companies provide limited liability which means your personal assets won’t be taken into account should things not work out for the company unless you have given a personal guarantee so it provides extra protection than being a sole trader or a partnership.
- Less Tax to pay when your profits as a sole trader or partnership reach over £20,000 since you don’t pay payments on account and you don’t pay class 4 NI.