Corporation tax
Not just a calculation
UK limited companies need to pay corporation tax on their annual profits. We’ll prepare your corporation tax return, send your corporation tax return to you for electronic signature and then file it electronically with HMRC. We’ll let you know how much you owe in good time so you can budget for the payment.
We can also advise you on the best ways to extract profits from your business, whilst always taking your short and long-term objectives and needs into account. And we’ll also work with you to see if you qualify for research and development (R&D) tax credits, which can further reduce your corporate tax liability.
Benefits
You can rest assured that we’ll take care of it in the best possible way, leaving you to concentrate on growing sales and improving your bottom line.
Quality assurance
Our team receive regular training to keep up-to-date with the never-ending changes in legislation and reliefs: so when we calculate your corporation tax, we know what’s allowable and what isn’t and what you may be eligible for, such as R & D tax relief And work is always reviewed by more experienced colleagues.
What we can do?
The review will also cover related topics like auto-enrolment, capital allowances, research and development and dividends.
And we’ll check what tax is outstanding.
How much is it?
The fee is often included in with the year-end accounts fee, but generally will depend on the complexity of the return.
FAQs
When do I have to pay corporation tax? Normally, it’s due 9 months and one day after the end of your accounting period. And we’ll keep you informed.
Do I have to make payments on account? If your company’s profits exceed £1.5m, then you will typically pay the tax in four instalments.
What happens if I pay the tax late? HMRC will charge you interest.
What happens if my return is submitted late? The HMRC will hit you with penalties, which vary according to how late it is.
Key points
Advance warnings of deadlines
- Advance warnings of amounts due