Unincorporated profits

This 2013/14 calculator uses current year tax rates to tax accounting profits made before 5 April 2014.

Tax relief is available for certain capital expenditure. Please contact us to discuss the extent to which you are able to claim up to £250,000 relief on capital expenditure

1. Depreciation is one of those items in your profit and loss account that is not an allowable cost for corporation tax purposes.
2. Tax relief is available for certain capital expenditure. This calculator only allows for capital expenditure incurred during the year you are looking at. While there is a £250,000 allowance for plant and machinery, your entitlement this year will be less. Please contact us to discuss the tax relief available on your capital expenditure.

The tax and class 4 National Insurance liability is due for payment in two equal instalments on 1 January 2014 and 1 July 2014. However, the payment you make on 1 January 2014 will also need to include any capital gains tax due for the tax year 2012/13.

Sounds complicated? Yes, it is which is why we recommend that you contact us if we have not already written to you confirming the amount of tax you are due to pay in 2014.