As a small business owner in the UK, saving for your corporation tax bill is essential to avoid cash flow issues when it’s due. Corporation tax is currently 19% or 25%, depending on your profits. To keep things simple set aside 20-25% of your profits to be on the safe side. You want a separate, easily accessible account that offers some interest but isn’t at risk of market fluctuations. ❇️ Set up an automatic transfer to your savings account every time you pay yourself or get paid by clients. ❇️ Keep a spreadsheet or accounting software (Xero, or QuickBooks) to track your tax liability. Don’t get caught short. Plan for your tax bill - after all it’s one of the two certainties of life! #kcaaccountants #supportingsmes #businessadviceuk #essexaccountant