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Corporation Tax

Profits you Pay Corporation Tax on

  • Taxable profits for Corporation Tax include the money your company or association makes from:
  • Doing business (‘trading profits’)
  • Investments
  • Selling assets for more than they cost (‘chargeable gains’)
  • Additionally, If your company is based in the UK, it pays Corporation Tax on all its profits from the UK and abroad.
  • If your company isn’t based in the UK but has an office or branch here, it only pays Corporation Tax on profits from its UK activities

To deal with corporation tax of your company is one of core areas of our responsibility as an accountant. We ensure that your corporate tax obligation are calculated and prepared adequately according to the latest prevailing corporation tax laws. We ensure that your corporation tax returns is filed on time with HMRC and tax liability is paid when it is due to HMRC.

You must pay Corporation Tax on profits from doing business as:

  • a limited company
  • any foreign company with a UK branch or office
  • a club, co-operative or other unincorporated association, e.g. a community group or sports club

You don’t get a bill for Corporation Tax.

There are specific things you must do to work out, pay and report your tax.

  • Register for Corporation Tax:when you start doing business or restart a dormant business. Unincorporated associations must need to inform HMRC.
  • You need to Keep accounting records and prepare a Company Tax Return to work out how much Corporation Tax to pay.
  • Pay Corporation Tax or report if you have nothing to pay by your deadline – this is usually 9 months and 1 day after the end of your ‘accounting period’.
  • File your Company Tax Return by your deadline – this is usually 12 months after the end of your accounting period.

Your accounting period is normally the same 12 months as the financial year covered by your annual accounts.

Our services with regards Corporation Tax include:

  • Advice on the compliance requirements on a location’s tax and preparing the required declarations and returns.
  • Communicate and negotiate with tax authorities for securing rulings.
  • Providing suggestions on available tax incentives like R & D expenses and preparing the claims.
  • Advice on the transactional structure.
  • Advice on public flotation.
  • Analyzing risk profile of strategies for tax planning.