However, it does not apply to sole traders or partnerships.

This factsheet provides a guide to calculating and paying corporation tax for private limited companies. It covers some of the tax reliefs and allowances that may apply, and the records that must be kept. It also provides information about the payment of corporation tax, filing of tax returns and the penalties that apply for filing inaccurate or late returns.

The rules surrounding corporation tax are complex and this information is intended only as a starting point to understanding the issues involved. It is essential to seek professional advice to ensure that obligations are met and the right amount of tax is paid.