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Corporate tax

egizz983 · 2024-06-15 19:24:59

Hello quick question is CT paid on profit or on sales invoices ? for example if i have sales invoices for 200k but only 100k was paid in that year and others might never be paid or will be paid next year

15-06-2024 7:24pm

#1

egizz983

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Posts: 18

Hello quick question is CT paid on profit or on sales invoices ? for example if i have sales invoices for 200k but only 100k was paid in that year and others might never be paid or will be paid next year

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#2 15-06-2024 7:29pm

[Deleted User]
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Sales/invoices less allowable expenses equals profit.
Corporation Tax is based on accrual method accounting (invoices) not cash (receipts).
Chase down your debtors!
Also CT is due 9 months after the year end, so your accounts receivable should either be paid or written off as a bad debt to your P&L by then.

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#3 15-06-2024 10:33pm

Geuze

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CT is paid on profits.

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