Following the company establishment in England, the following tax burdens can be calculated for the business activity.
After the positive result of its annual activity, the company pays 19% corporation tax, so Corporation Tax.
UK companies do not have VAT registration up to an annual income up to £85,000, so prices can be more competitive because they do not have to charge the specific VAT rate. Businesses do not have to pay a VAT bill and do not have to worry about making returns or making a prize.
Taxes on the employment of staff are the tax deducted from the gross wage and the NI contribution payable to the employee’s gross wages.
The actual minimum hourly rate is a gross of £8.72 for British workers aged 25 and over. From their gross wage earnings over an annual income of over £12500, 0% of the higher income will be deducted 20% tax (personal income tax).
From 0.95% to £9500 of wage income 12% National Insurance contribution is deducted from wages.
Employers also have a NI payment obligation for their employer. Employer NI is 13.8% of the income portion above £9500. For start-up micro businesses, however, the Employment Allowance grant can be used, which gives employers NI contributions up to a maximum of £ 3000 a year, thus encouraging employment.
The UK is waiting for you! – join the English company foundation
and ask our help for any financial issues. We are looking forward to contacting you as soon as possible!
Phone: +44 (0) 1357 – 340 – 000; +44 (0) 7550 – 14 – 1337
Skype: Symfalogic Corporation
To start estabilishing your English company, fill out the form below: