UK Corporation tax on your P&L

[Jay2]

Hello all

for simplicity , if Profit before tax is £100k and the UK corporation tax rate is 19% can I simply deduct £19k and pay that at a later date to the tax man ?
Or must I get a tax specialist to work out our exact tax figure , allowable expenses etc

thank you for any help and advice
Jay

 

[kirby]

The latter. Hire a tax specialist.

 

[Jay2]

The latter. Hire a tax specialist.

Thank you …. Again

 

[Truemanbrown]

You will also need to consider deferred tax!

 

[Jay2]

Hope all posters are well

for any UK Posters , corporation tax being raised to 25% in 2023 , I take it that will be applied to 22/23 accounts (1st April -31 March financial Year ) ? Is that right ?