Corporation Tax

Who needs this service?

All limited companies in the UK must file their Corporation Tax Return (CT600) with HMRC once every year. So, if you own a company that has traded in any year, you should prepare the corporation tax return. 

If you run your business in any other form like sole trader or partnership, you don’t need to file the corporation tax return. 

If your company has traded in any year, you must file a corporation tax return.

If your company has not traded, you can ask for an exemption from filing the corporation tax return until your company start selling again.

The corporation tax return is filed with the HMRC along with full accounts.

What is included in this service?

Our service will include the following when you hire us as your accountants to prepare and file the corporation tax return for your company. From the annual accounts of the company, we will calculate the tax liability. Corporation tax can be overwhelming at times but, We will explain the workings in simple language. We will ensure to claim all the available reliefs. 

Calculation of your tax payable

Claim all the available reliefs and allowances

File the return with the HMRC

Statutory deadline and penalty if you miss the deadline

There are two elements of the corporation tax.

Corporation Tax Return

Corporation Tax Payment

Both of the above elements have two different deadlines.

You must file the corporation tax return within 12 months after your company’s year-end. However, you must pay the tax within nine months and one day after your company’s year-end.

For example, if your company’s year-end is 31st December, for the year ended 31st December 2021, you will need to file the tax return before 31st December 2022 but, you will need to pay the tax on or before 1st October 2022. So, in a nutshell, your corporation tax return must be ready within nine months after your company’s year-end.