This is a tax on your business if you are a limited Company. It is a tax based on your profit, taking certain categories (types) of expenditure, either out or in, that maybe in your accounts. The actual types are dictated by HMRC and are not driven by Companies House.
It is important this is calculated correctly, as with any tax from HMRC, if it is incorrect, they could investigate and the Company could be liable for penalties & interest, as well as the Directors, if appropriate.
Like Personal tax for an individual, Corporation tax has a number of different tax benefits to help businesses, which could reduce the amount of Corporation tax that your business has to pay, either for that year or totally. Some examples of this are optimising Capital allowances, Research & development tax relief, etc.
Our Corporation tax service helps you pay the minimum amount possible and ensures you meet all the required reporting & compliance deadlines.
To find out more about our Corporation Tax service, call us or complete the form below and we will call you back.