Corporation Tax Terms with "T"

Glossary of Corporation Tax - Glossario Imposta Società

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Tax Calculation: the maths you show directly in your Company Tax Return when calculating how much Corporation Tax you need to pay; compare computation.

Tax Liability: how much Corporation Tax your company or organisation owes.

Tax Payable Under S419 ICTA 1988: refers to the legislation that covers Corporation Tax on directors' loans (S419 Income and Corporation Taxes Act 1988).

Taxable Income: income generated by a company or organisation that is liable to Corporation Tax.

Taxable Profit: the profits on which the amount of Corporation Tax your company or organisation pays is calculated; taxable profit includes profits from all types of taxable income such as trading profits and investment profits; also known as profits chargeable to Corporation Tax.