Corporate Tax

Whatever the size of your business, all companies need to submit an annual self-assessment Corporation Tax return to HMRC.

What is Corporation Tax?

Corporation Tax is payable on all profits gained by a business over a 12 month period.  Such businesses include:-

• A limited company
• Any foreign company with a branch or office in the UK
• A club, co-operative or other unincorporated association, ie. a sports or community group.

However, the process is not simply a case of you receiving a bill.  Instead, there is a system in place which involves registering for Corporation Tax; keeping accurate accounting records and the preparation of a Company Tax Return which needs to be filed by your business’ deadline (usually 12 months after your accounting period).  The completion of the process leads to the calculation of how much Corporation Tax is payable.

Corporation Tax becomes payable on the profits your business makes on:-

• Doing business, ie. ‘trading profits’
• Investments
• Selling assets for more than they cost, ie. ‘chargeable gains’.

Why do I need an accountant to handle my Corporation Tax?

Here at Haswells, we can guide you every step of the way and help you plan your affairs in such a way as to minimise the impact of Corporation Tax on your business.

We can prepare your company’s Corporation Tax return; advise on liabilities and payments; manage any capital allowance claims and handle any tax investigations – all on your behalf.

Our Corporation Tax services include:-

• Preparation of company Corporation Tax returns
• Advice on liabilities and payments
• Capital allowances claims
• Handling tax investigations

So, if you need help with your Corporation Tax and would like our team here at Haswells to help, simply call us or email enquiries@haswellsllp.com for more information.