Corporation Tax

The responsibility for correctly calculating the UK corporation tax liability falls on business directors, irrespective of whether they are based in the UK or overseas.

Corporation tax is an amount that limited companies must pay to HMRC on all taxable trading profits. It could be referred to as income tax. It is also known as a CT600. It is set at a flat rate of 25% for most UK company’s. All limited companies and non-profit organisations that are trading in the UK must pay corporation tax on all forms of taxable income.

We calculate your company’s tax liability and assist with the calculations of these payments in line with the requirements. This is usually done in tandem along with the preparation of yearly accounts, prepared under the reporting requirements for Companies House and submission to HMRC.

A UK company tax return is typically made up of a number of items:

  • Form CT600 which must be signed by an authorised signatory; director, company secretary, or authorised tax representative
  • The Company accounts, known as statutory accounts. These are the accounts the company must prepare for its members under the Companies Act, including directors’ reports and, if applicable, auditor’s reports
  • Separate computations and/or calculations showing how figures on the CT600 have produced
  • Supplementary pages to the CT600 where required.

We will help to minimise corporate tax exposure and relieve the administrative burden of compliance with the current tax legislation. Effective corporate tax planning, and any form of tax planning, is best done before the event.

Get in touch with us to discuss your UK tax requirements.