Corporation Tax

Every limited company that is based in the Uk is subject to corporation tax on their profits.

The first thing you must do is register your company with HM Revenue & Customs using their official forms, letting them know that your are liable for corporation tax.

If your company is liable for corporation tax, you must calculate how much profit your company makes for each accounting period and how much corporation tax is payable on those profits. This information must be reported to HM Revenue & Customs in support of the return. There are strict penalties for filing late returns and interest is charged on tax paid late, so it is important that the deadlines, which are determined by your company’s annual accounting date are adhered to.

Charles Rowan Accountants can assist with the preparation of company accounts, company tax returns and corporation tax computations and will also be able to provide advice on any tax planning areas that may benefit you and your company.