RAISING THE STANDARDS

Get you Corporation
Tax right

Most business owners perceive corporate tax self-assessment as an added burden because of its complexity but you have nothing to worry about.  UK tax law for UK limited companies is complex and constantly changing. We offer the best and low-cost services for paying corporation tax. We can handle the hassle of your business tax assessment and explore tax-related solutions that result in reduced liability. Determining corporate tax liability, corporation tax calculations, preparing corporation tax returns can be overwhelming and complicated.

Therefore, we offer affordable limited company tax solutions that can reduce your tax liability considerably. Sole traders and partnerships do not pay corporation tax, instead, they file a tax return and apply income tax to their earnings. The objective is to do the accurate working and application of rules for settling HMRC corporate tax liability determine to pay the right amount of tax.

Accounting and Tax Services
Business Tax Planning
Retirement Strategies
Business Development
Strategy
Communication
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TAXATION IS WHAT WE DO

More than just
Corporation Tax!

We can fulfil all your accounting needs. We use compatible accounting software to enhance perfection and reduce the processing time.

We as your business tax accountant can assist in your tax return (CT600) and help you in paying corporation tax online and dealing with limited company tax returns. These returns are filed not only by limited companies but also by other entities such as housing associations, membership organisations, clubs & societies & cooperatives. The corporation tax main rate in the UK is currently set at 19% is based on the profits earned by them.

In arriving at income from trading profits, investments and selling assets such as land, property, shares, and machinery for a chargeable gain certain species can be deducted from the revenue, as also allowable expenses, reliefs and allowances you can use which helps in reducing your tax liability, preparing to file corporation tax and settling company tax liability.

It is the obligation of the directors of the company to complete and file a company tax return along with the company accounts called CT600 annually and settle the tax liability. The company accounts are required to be filed with the Companies House irrespective of the fact that the business is making losses. Directors can engage the services of a professional accountant to complete the accounts and the return on their behalf.

The government has announced from April 2023, taxable profits above £250K will be subject to a tax of @25%, profits below £50K will be subject to tax @ 19, and taxes in between will attract a marginal rate of 26.5%.

Effective April 2021, companies will be able to carry back losses up to £2 million to the preceding three years which will be helpful to companies that have suffered losses as a result of Covid.

Disclaimer

Tax on profits exceeding £1.5 million can be paid in quarterly installments based on estimated corporation tax liability due for that period with adjustment done with at the time of paying the final liability at the period end.

You can avail of our corporation tax services that and hand over your tax responsibilities to us and we can help you:

  • Compute the company’s tax and capital allowances.
  • Preparing and filing your company’s tax return (CT600) form.
  • Calculate the company’s tax liability in the most optimum manner.
  • Track due dates for tax returns, settle tax liabilities and avoid fines & penalties.
  • Handle investigations and collaborate with HMRC if required.

If you don’t want to bother yourself with the HM Revenue & Customs enquiries, face the consequences of inaccurate reporting, pay off tax liabilities incorrectly, then look no further.

You can benefit from our advanced tax planning services that can help you take the advantage of tax incentive schemes, reliefs allowances, exemptions, and deductions. Your business can also maximize the benefits from tax-free capital investments offered by the Government. These opportunities include:

  • Investing in commercial property
  • Employee share schemes
  • Purchasing Company cars
  • Other Non-trading investments
  • Tax incentives to outside investors

Corporation tax requires the company to register for corporation tax through HMRC on the Gov.UK website. Details such as the Company’s name, registration number, business start date, address, type of business, and name and home addresses of the directors.

The deadline for filing corporate tax is different from other taxes as it has to be paid before the company tax returns are filed i:e nine months and one day after the end of the accounting period. Late filing of returns or inaccurate returns can both attract penalties and attract interest.

Other than corporation tax, we also specialise in dealing with single-person companies, owner-managed companies to family-run businesses. We also provide services such as company payrollmanagement accounting and bookkeeping requirements. You can benefit from our host of other services such as:

  • Incorporating a company, suggesting holding or subsidiary structure
  • Unincorporated a company and becoming a sole trader or partnership.
  • Company closure/declaring dormant minimising professional fees & tax costs
  • Considering exemptions and special tax reliefs available to your business.
  • Dealing with overdrawn director’s loan account
  • Plans for getting the most from a sale of your business.
  • Suggestions of assets and liability structure to keep tax to the minimum
  • Tax implications of owning property, hiring it, or renting it from the directors.
  • Company valuation and tax effects of a valuation.
  • Plans for getting the most from a sale of your business.
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TAX PREPARATION FOR YOUR BUSINESS

You wouldn’t want to
Miss your tax

Corporation tax may constitute a substantial cost to your business. The objectives of corporate tax planning are to implement strategies that can potentially reduce your tax liability and improve your profitability.

STEP 1Your Problem

Tax related issues whether relating to individuals, business, investments, or retirement situations are complicated, difficult to understand and handle and can have unusually a large incidence of cash outflows on your wealth if not managed properly.

STEP 2Our Observance

We can review and examine circumstances on a case-by-case basis to determine the extent of implications and repercussion as to how the tax rules and regulations can affect you.

STEP 3Our Suggestions

Based on our reviews and consultations as to your individual or business circumstances we can forecast the tax implications with certainty and advise as to what can be done to mitigate or lessen the tax impact.

STEP 4Your Success

Keeping in view of the complicated tax regime and the higher rates of tax, it makes sense to seek professional advice which can shed light as to how tax liability can be kept to a minimum.
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OUR OFFICES

Get in Touch

Come and visit our offices or simply send us an email anytime you want. We are open to all suggestions from our clients.
Address
94 Street Lane
Rhoundhay
Leeds
LS8 2AL, UK
Address
9 Sheaf Lane
Coventry Road
Birmingham
B23 6EJ, UK
Contact
0113 8870 218
0121 7268 542
info@careaccountancy.co.uk

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    CareAccountancyOffices
    94 Street Lane, Leeds
    9 Sheaf Lane, Coventry Road, Birmingham
    OUR LOCATIONSWhere to find us
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    GET IN TOUCHCare Accountancy Social Links
    Taking seamless key performance indicators offline to maximise the long tail.
    CareAccountancyOffices
    94 Street Lane, Leeds
    9 Sheaf Lane, Coventry Road, Birmingham
    OUR LOCATIONSWhere to find us
    https://careaccountancy.co.uk/wp-content/uploads/2019/04/img-footer-map.png
    GET IN TOUCHCare Accountancy Social Links
    Taking seamless key performance indicators offline to maximise the long tail.

    Copyright by CareAccountancy. All rights reserved.

    Copyright by CareAccountancy. All rights reserved.