Primarily, your business will be taxed on its profits (the net amount of money it makes

after losses and expenses). How this happens will depend on its structure. Your business may have to pay several different taxes, such as:

- Corporation tax- you must pay Corporation Tax on profits from doing business

You don’t get a bill for Corporation Tax. There are specific things you must do

to work out, pay and report your tax.

- Income Tax- Income Tax is a tax you pay on your income. You do not have to

pay tax on all types of income

- Capital gains tax- is a tax on the profit when you sell (or ‘dispose of’)

something (an ‘asset’) that’s increased in value. It’s the gain you make that’s

taxed, not the amount of money you receive

- VAT- As a VAT-registered business, you must charge VAT on the goods and

services you sell. You can reclaim VAT on items you buy for use in your

business

Dealing with company’s transaction can be intimidating process given the

requirements set by HMRC and Companies house for Statutory Accounts and

Taxes. AD Accounting is here to take off the stress and make it easy for your company