Employment Income

• Additional yearly rental benefit = (Cost of house - £75,000) x 2.25% - any rent paid by tenant = Taxable benefit
• Annual value of the house - any rent paid by tenant = taxable benefit
• For very large companies, corporation tax is paid on the 14th day of the 3, 6, 9 and 12 months of the accounting period
• A large company pays corporation tax on the 14th day of the 7th, 10th, 12th and 16th months after the start of the 12 month accounting period
• Normal companies have a corporation due date 9 months and 1 day after the end of the accounting period