I have a limited company with exptected profits for this year of £80k. This would therfore mean a corporation tax charge of £15.2k (19%).
If I wanted to distribute the remainder of profit after tax (£64.8k) between four directors will the 10% tax credit still apply to all directors?
In addition to the corporation tax, do the company pay 10% over to the Inland Revenue and the net amount paid to the directors?
Thanks
Sarah
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