The Company pays Corporation Tax (current rate 19%) on its profits nine months after its financial year end.
The Standard Rate of VAT is 20% and it is applied on goods and services.
Registration for VAT (Value added Tax – Current Rate 20%) will only be needed if the company’s trading turnover has exceeded in a year or less the registration limit, currently at £85,000 for 2015/16 tax year. The Company can voluntarily apply for VAT Registration if so decides, from day one.
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