Coporation Tax in The City

Get in touch

Corporation Tax Planning in The City

At The Tax Advisors, we understand that navigating the intricacies of Corporation Tax can be challenging for businesses of all sizes.

As a team of professional and affordable tax accountants based in the UK, we are dedicated to helping you manage your tax obligations efficiently, allowing you to focus on growing your business.

Get in touch

What is Corporation Tax?

Corporation Tax is a levy on the profits of companies and other incorporated entities in the UK. It applies to UK-resident companies and non-resident companies with a permanent establishment in the UK.

The current Corporation Tax rate in the UK is 25% as of April 2023, but this may vary depending on government policies and the specific circumstances of your business.

Key Corporation Tax Deadlines

  1. Filing the Company Tax Return (CT600): This must be submitted to HMRC within 12 months of the end of your accounting period.

  2. Payment of Corporation Tax: The payment is due 9 months and 1 day after the end of your accounting period.

  3. Quarterly Instalment Payments (QIP): Larger companies may need to pay their Corporation Tax in quarterly instalments if their taxable profits exceed a certain threshold.

Missing these deadlines can result in penalties and interest charges, so it's essential to stay on top of your tax obligations.

How The Tax Advisors Can Help

At The Tax Advisors, we provide comprehensive support for all your Corporation Tax needs, including:

  • Calculation of Corporation Tax liabilities: We ensure accurate calculations of your tax obligations, considering all available allowances and reliefs.

  • Preparation and submission of the Company Tax Return (CT600): Our experts handle the entire process, from gathering the necessary financial information to filing your return with HMRC.

  • Tax Planning: We offer tailored advice to optimise your tax position and help you reduce your Corporation Tax liability.

  • Dealing with HMRC: We represent your company in any communications with HMRC, ensuring that all queries and disputes are handled professionally.

Frequently Asked Questions (FAQs) about Corporation Tax Accounting in The City

1. What is the Corporation Tax rate in the UK?

As of April 2023, the standard Corporation Tax rate in the UK is 25%. However, small companies with profits under £50,000 may qualify for the small profits rate of 19%.

2. What expenses are deductible for Corporation Tax in HP14 4?

Deductible expenses include costs that are "wholly and exclusively" for business purposes, such as salaries, office rent, equipment, and marketing expenses. However, capital expenditures are generally not deductible, though they may qualify for capital allowances.

3. Can I carry forward Corporation Tax losses?

Yes, trading losses can be carried forward to offset against future profits, reducing your future Corporation Tax liabilities. Additionally, losses can sometimes be carried back to claim a refund for previous years.

4. What happens if I miss the Corporation Tax payment deadline?

Missing the deadline for payment of Corporation Tax can result in penalties and interest charges. It's crucial to ensure timely payment to avoid these additional costs. At The Tax Advisors, we help you manage deadlines effectively to prevent any issues.

5. How can tax planning help reduce Corporation Tax?

Effective tax planning involves strategies such as maximizing available reliefs and allowances, adjusting the timing of income and expenditures, and considering the structure of your business. Our team at The Tax Advisors can help you develop a plan that minimises your Corporation Tax liability while ensuring compliance with UK tax laws.

Why Choose The Tax Advisors?

  • Expertise: Our team comprises qualified accountants with extensive experience in UK tax law, ensuring you receive the best advice.

  • Affordability: We offer competitive rates without compromising on the quality of our services.

  • Personalised Service: We take the time to understand your business and provide tailored advice that meets your specific needs.

  • Proactive Approach: We keep abreast of the latest tax legislation, ensuring your business remains compliant and benefits from any new tax-saving opportunities.

Contact Us Today

If you need help with Corporation Tax or any other tax-related matters, The Tax Advisors are here to assist.

Contact us today to arrange a consultation and discover how we can support your business in achieving tax efficiency.

Get in touch

We cover The City (Buckinghamshire)

Get in touch

We aim to get back to you in 1 working day.


Skip to

Gallery

Other locations available for coporation tax
Marsh Gibbon Pednormead End Bledlow Bierton Chalkshire Monks Risborough Twyford Victoria Park Tingewick Green End Wymbush Widmoor Cryers Hill Mantles Green Asheridge Iver Heath Summerstown Denham Hollingdon Cholesbury Cross End Longwick Clanking Hughenden Valley Wood End Fishermead Stoke Hammond Woodham Medbourne Bourton Hyde Heath Booker Lacey Green Forty Green Atterbury Woughton on the Green Bucklandwharf Terriers Lenborough Penn Street Edlesborough Pitstone Hill Town's End Two Mile Ash Barton Hartshorn Pitstone Marlow Aylesbury Little Kingshill Great Brickhill Emberton Pednor Bottom Shalstone Holmer Green Whelpley Hill Beacon Hill Lanes End Fawley Cublington Adstock Weedon Marsh Beacon's Bottom Shenley Lodge Petsoe End Olney Hollybush Hill Aston Sandford Butler's Cross Kingsash Skittle Green Heath End Lower Pollicott Leckhampstead Little Marsh Long Crendon Towerage Stony Stratford Spurlands End Burroughs Grove Filgrave Cheddington Hillesden Netherfield Holtspur Green End Akeley Bradenham Conniburrow Sandhill Chalfont St Peter Middle Green North Marston Hotley Bottom Hunt's Hill Little London Greenlands Kingsey Egypt Ashley Green Cold Brayfield Calvert Tyringham Great Kingshill Haversham Up End Parslow's Hillock Grove Beanhill Gayhurst Poyle Botley Little Boys Heath Dagnall Rockwell End Orchard Leigh Ballinger Common Farnham Park Richings Park Bragenham Terrick Hanslope Lee Common Shenley Brook End Milton Keynes Village Wing Hardwick Wingrave Brinklow Newtown Great Kimble East End Beamond End Weston Turville Northfield Wooburn Green Great Hivings Wood End Lower North Dean Butlers Cross Great Linford South Heath Waterside Bedgrove Thornborough Buckingham Hoggeston Austenwood Weston Underwood Hawks Hill Lavendon Little Wood Corner Iver Giffard Park Upper Winchendon Chackmore Little Kimble Littleworth Common Bockmer End Pineham Little Marlow Coombe Middle Claydon Redland End Whaddon Fern Winchmore Hill Gibraltar Central Milton Keynes Shipton Lee Ford Ditchfield Town End Denham Mount Pleasant Oakgrove Higher Denham Buckland Hedgerley Hill Lower Cadsden Wardrobes Lake End Beaconsfield Seer Green Lathbury Dinton Warrington Quarrendon Ivinghoe Langley Corner Browns Wood Crownhill Thorney Barley End Gravel Hill Hedgerley Dorton Moor End Broughton Manor Park Mill End Boveney Chicheley Downhead Park Wooburn Moor Heath End Stewkley Moor Common Swanbourne Upper Pollicott Lower Hartwell Upton Dadford Bleak Hall Chisbridge Cross Lee Clump Bolter End Rout's Green Stokenchurch Upper North Dean Stoke Poges Lillingstone Lovell Cadmore End Layters Green Creslow Holly Green Lower Woodend Rose Hill New Bradwell Aston Abbotts Dunton Burcott Alscot Sands Bottrells Close Nash Lane End Micklefield Littlecote Medmenham East Claydon Ballinger Bottom Penn Bottom Bradwell Common Lower End Fenny Stratford Little Horwood Haddenham Pheasant's Hill Coffee Hall Forty Green Kingston Church End Walter's Ash Marlow Bottom Cressex Ilmer Chenies Denham Green Horsenden Fulmer Winslow Colnbrook George Green Salden Lower Winchendon or Nether Winchendon Duck End Caldecotte Startop's End Monkston Park Totteridge Beachampton Walton Chalfont Common Turville Bradville Newport Pagnell Turweston Oldbrook Owlswick Calverton Farnham Common Goddards Gawcott Ley Hill Colstrope Great Hampden Piddington Stoke Mandeville Northend Lower End Mobwell Tathall End Water Stratford New Denham Wotton Underwood Stoke Goldington Wavendon Worminghall Dorney Pitchcott Mursley Farnham Royal Cuddington Townsend Loughton Loosley Row Walton Ledburn Bovingdon Green Four Ashes Speen Hedsor Lower Bois Waterend Woodrow Ivinghoe Aston Lent Lillingstone Dayrell Ludgershall Easington Westbury Saunderton Horton Wharf Amersham Charndon Horton Marsworth Berghers Hill Wheeler End Elmhurst Chalfont St Giles Coleshill Flackwell Heath Halton Nup End Parmoor Drayton Beauchamp Chalfont Grove The City Wexham Street Chesham Bois Padbury Shabbington Woburn Sands Oving Ellesborough Skirmett Whiteleaf East Burnham Quainton Central Milton Keynes Westlington The Lee Nash Lee Loudwater Lent Rise Amersham on the Hill Great Horwood Latimer Bryant's Bottom Greatmoor Westcroft Sherington Bourne End North End Codmore Greenleys Moulsoe Hedgerley Green Aston Clinton Little Chalfont North Lee Wycombe Marsh Upper Weald Singleborough Granborough Great Holm Wendover Sedrup Knotty Green Boarstall West Wycombe Stratton Chase Saunderton Lee Penn Chilton Woolstone Smokey Row Stony Green Chetwode Little Linford Astwood Bellingdon Great Missenden Kents Hill Amersham Common Bletchley Handy Cross Water Eaton Prestwood Chessmount Sheepridge Church End Ham Green Poundon World's End Rowsham Burcott Green Hailey Lye Green North End Downley Gerrards Cross Bennett End Ravenstone Wolverton Southcourt Buffler's Holt Oakley Wilton Park Baker's Wood Edgcott Greatgap Amersham Old Town Newton Longville Tongwell Walton Court Little London Hilltop Biddlesden Radclive Eaglestone Dunsmore Tinkers End Pheasants Emerson Valley The Common Stone Hambleden Bow Brickhill Brill Tetchwick Furzton Chearsley Willen Tickford End Old Wolverton Wroughton Park Widmer End Askett Summer Heath Horsleys Green Hazlemere Tyler's Hill Turville Heath Chesham Pond Park Dorney Reach Little Crawley Whitchurch Nether Winchendon or Lower Winchendon Bishopstone High Wycombe Brook End Radnage Buckland Common Northall Botolph Claydon Old Farm Park Stantonbury Sutton Naphill Shenley Wood Well End Willowbank Flowers Bottom Hulcott Slapton Bye Green Addington Wooburn Frith-hill Chivery South End Ibstone Grendon Underwood Crafton Hillesden Hamlet Newton Blossomville Love Green Kimble Wick St Leonards Milton Keynes Shipton Little Brickhill Drayton Parslow Preston Bissett Hollybush Corner North Crawley Grange Farm Lower End Burnham Pitstone Green Pitch Green Walnut Tree Westcott Little Missenden Jordans East End Marlow Common Crownfield Long Street Ballinger Bottom (South) Heelands Fingest Frieth Maids' Moreton Chartridge Tylers Green Danesfield Simpson Tatling End Stewkley Dean Taplow Hunt's Green Stoke Green Cores End Mentmore Wendover Dean Neath Hill Wooburn Common Lee Gate Bledlow Ridge Wavendon Gate Princes Risborough Blakelands Darvillshill Steeple Claydon Shenley Church End Swan Bottom Southend Fawley Bottom Castlethorpe Thornton Little Hampden Shreding Green Clifton Reynes Studley Green Meadle Middle Weald Springfield Hardmead Nearton End Foscote Lower Weald Bradwell Soulbury Little Missnden Waddesdon The Green Ickford Tattenhoe Ashendon Buckmoorend