Income Tax Payable vs Corporate Tax Payable: Understanding the Key...

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2025-07-28 13:58:16 -

Income Tax Payable vs Corporate Tax Payable: Understanding the Key Differences for UK Businesses and Contractors

Whether you're a sole trader, self-employed professional, or running a limited company, taxes are a vital part of managing your finances. Two of the most commonly discussed tax obligations in the UK are income tax payable and corporate tax payable. Though they sound similar, they differ significantly in terms of who pays them, how they’re calculated, and the broader implications for your...

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