CORPORATION TAX

Corporate Tax Liability

The requirement of corporation tax compliance and reporting obligations is constantly growing and the credentials of compliance are becoming more and more complex, rendering many business owners completely lost and surrendering a large amount of time that could be better spent elsewhere. Our corporation tax compliance service is designed to completely cover all of your requirements, whether they are a complete tax compliance service or a simple review. At The Accountancy Solutions we have a highly trained team of professionally certified tax accountants so we know how to complete your corporate tax returns with the exacting precision that the HMRC requires of all corporate forms.

Advice For Corporation Tax

We work with businesses of all sizes, providing reliable services across every area so you can focus on your key business activities with peace of mind. Our services are trustworthy, and we work alongside you to ensure your company pays the correct corporate tax in compliance with HM Revenue & Customs (HMRC) regulations. Through in-depth analysis of your profitability, we also support your decision-making.

Corporation tax : your simple guide

Once a limited company has completed its registration process, it must immediately report its business activities to HM Revenue & Customs (HMRC). This is a necessary step to comply with legal and tax requirements and to ensure your company operates lawfully and with peace of mind.

Who Needs To Pay Corporation Tax?

All limited companies in the UK must pay corporation tax which is a percentage charged on the company’s annual profits. It is not payable by any sole trader or partnership as these businesses use the self assessment system. However, corporation tax is applicable to all the following organisations:

· Members’ associations, societies and clubs

· Trade associations

· Groups of people who are not a partnership but do run a business

· Housing associations

Why Hire An Accountant for Corporation Tax?

Appointing an accountant to deal with tax affairs of a limited company is very important as they will have the skills and experience necessary to ensure that all information is accurate, up to date and completed at the appropriate time to guarantee that your company complies with legal requirements. Handling the tax requirements of a limited company can be extremely complex and therefore using the services of a fully qualified team of accountants like The Accountancy Solution will ensure that your affairs are kept in order and you can have peace of mind. This is especially important since HMRC rules dictate that all tax records for limited companies must be kept for at least 6 years, and this is best left in the hands of professionals to ensure that all requirements are met.

Corporation Tax Support

At The Accountancy Solutions we have considerable experience minimising the amount of tax companies have to pay by providing an extensive examination of tax reports to find out where they may be eligible for tax reliefs and special allowances. Every company operates differently, and we have the knowledge to locate where tax reliefs may be applicable in your unique business, ensuring that you never overpay on your taxes when allowances can be found and declared.

If your company has triggered a check from the HMRC and they are investigating into your finances, it is crucial that you seek assistance from a trained tax accountant who can deal with the HMRC on your behalf, proving them with the information that they need quickly to avoid penalty. There are a number of reasons why a HMRC check may be triggered and they may choose to investigate further if you can’t prove that your finances are in check and further prove that the cause for inquiry was not due to tax avoidance or tax fraud.