Guys, I’ve got a question about corporation tax. Now, I’ve just had my application approved by Companies House for a private limited by shares company. The next order of business will obviously be to register my new company with HMRC. I’m not sure about taxes, though. As a sole trader, I simply paid income tax. As far as personnel goes, my company isn’t going to be any bigger. So, I don’t feel like I really qualify as a corporation. Bearing that in mind, does my limited company need to pay corporation tax? Would appreciate any insight you might be able to provide.
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