Corporate tax | LegaMart

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QuestionDec 15, 2021 - 10:57

Corporate tax

If I register an LTD company in the UK and do not operate the business, do I still need to pay taxes? Basically, I want to grab the business name for the future before someone else takes it.

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Dec 18, 2021 - 1:35

Commencement of business and commercial activities carried on by any company registred are liable to pay Tax. At the time of incorporation of the Company the Documents accompanying with the Declarations and Memorandum of Association of the company. In the Certificate of incorporation issued by the Registration Authority will state the effective date of incorporation, commencement of business,date of renewal and date of validity of the Incorporation certificate will give the existence of a company. Some of the businesses are exempted from Tax. Inform to the income tax department about the applicability of income tax rules for a Registered company which does not have commercial operations as on to the date and follow the instructions and comply. Thanking you. With kind regards, S.Venkateswar Patnaik, High Court Advocate, Legamart member, Bhubaneswar, Odisha India Mobile Number📱📞+918480613309

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