Corporation Tax and Net Profit Summary for Sample Business
|Profit before Employee Costs||£0.00|
|Gross Profit Before CT||£0.00|
Sample Business has not made a profit, so no further taxes are to be deducted.
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Using the Small Business Tax Planner - Gross Profit
Detailed above is the amount of profit your business has made after running costs, employee costs and associated taxes - including corporation tax.
You now have a figure to use to decide how much of your profit to remove from the business, either by increasing salaries or taking a dividend.
Abbreviations used above:
- Take Home - Take Home Pay After All Deductions
- NIC - National Insurance Contributions
- SALARY - Gross Income Before Deductions
- TAX - Personal Income Tax For Employee
- EE - Employee's National Insurance Contributions
- ER - Employer's National Insurance Contributions
- CT - Corporation Tax