• VAT rate is 20%
• Corporation tax is 19%

VAT is taken from the whole payment amount, and corporation tax is taken from the remaining amount. So given an invoice of £ + VAT, £ is VAT, and £ is corporation tax.

Invoice Amount, inc VAT

VAT

£0

Corporation tax

£0

After taxes

£0

Combined tax

£0

Updated October 7th 2019

Disclaimer: This does not constitute financial advice.
Always consult a qualified accountant and tax advisor.