Coporation Tax in East Sussex

Get in touch

Corporation Tax Planning in East Sussex

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 East Sussex

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 BN26 6?

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 East Sussex

Get in touch

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


Skip to

Gallery

Other locations available for coporation tax
Best Beech Hill Westham Old Town Alciston Chilsham Plumpton Green Friston Park Corner Landport Bodiam Glenleigh Park Furner's Green Horney Common Withyham Whitehawk Wych Cross Lidham Hill Norton Houghton Green Meads Five Ashes Southease Clive Vale Norman's Bay Hooe Common Wallands Park Southover Norlington Wood's Corner Winton Newbridge Dale Hill Broomsgrove North Chailey Heron's Ghyll Birling Gap Chelwood Gate Ninfield Pestalozzi International Village Grisling Common Five Ash Down Burgh Hill Lower Street Sheffield Green Oxley's Green Lower Horsebridge Hartfield Telscombe Gallypot Street Golden Cross Battle Guestling Thorn Stone Cross Hankham Bowler's Town Tompset's Bank Broad Oak Bells Yew Green Old Town Trolliloes Harbour Heights Town Littleworth Willingdon Sharp's Corner Cooper's Green Hale Green East Moulsecoomb Silverhill Upper Dicker Lower Dicker Peacehaven Heights Southover Catsfield Horsted Green Tolhurst Punnett's Town Woodmans Green Wivelsfield Green Silverhill Park Buxted Pound Green Ridgewood Alderbrook Downside Baldslow Lower Willingdon Westfield Rocks Park Chalvington Cowbeech Isfield Marle Green Birchett's Green West Park Manor Park New Town Laughton Common Poundfield Holtye Stone Cross St Helen's West Firle Upper Hartfield Old Town Tilsmore Burnt Oak Thunder's Hill Broad Oak Waldron Down North Moulsecoomb St John's Danehill Bardown Blackness Penhurst Strawberry Hill Groombridge East Guldeford Horns Cross Wivelsfield Upperton Ponts Green Old Heathfield Mount Ephraim Seaford Blackham Twelve Oaks Sedlescombe Godleys Green Whatlington Hampden Park Fletching Common Wartling East Chiltington Boreham Street Beckley Cliff End Mile Oak Red House Common Turner's Green Piddinghoe Harley Shute Hollingrove Witherenden Hill Bodle Street Green Westdene Little Bayham Town Row Mill Corner Piltdown Nutley Maynard's Green Etchingham Cousley Wood Ashton Green Gotham Shover's Green Falmer Winchelsea Beach Cripp's Corner Netherfield Bexhill Broadland Row Tidebrook Fairlight Dallington Hamsey Henley's Down Durgates Roedean Camber Whitehill East Blatchington Canadia Three Cups Corner Wilmington Green Palehouse Common Rose Hill Wilmington Friar's Hill Bulverhythe Seacox Heath Hollington Quabrook Warbleton Four Oaks Poundgate Barcombe Cross Peacehaven Jury's Gap Sidley Teasley Mead Rushlake Green Watermill Duddleswell Pell Green Heathfield Framfield Cooden Rockrobin Saltdean The Highlands Ditchling Brightling Little London Cock Marling Ovingdean Tarring Neville Halland Burwash Common Pett Level Eckington Corner Herstmonceux Plumpton Frant Chitcombe Sleeches Cross Little Norlington Balls Green Rickney West Marina Park Corner Green Street Cackle Street Blacklands Burwash Marlpits East Dean Wadhurst Belmont Goatham Green Catsfield Stream St Leonards Crowborough Warren Folkington Bohemia Offham Burgh Hill Jevington Berwick Castle Hill Danegate Cade Street Spithurst Chiddingly Stanmer Cooksbridge Westmeston Newick Streat Iden Rottingdean Clayhill Butcher's Cross Vines Cross Broyle Side Ginger's Green Mount Pleasant Summer Hill Ewhurst Green Rye Etchingwood Foxhunt Green Foul Mile Marden's Hill Lye Green Mott's Mill Withdean Sandy Cross Davis's Town Uckfield South Chailey Crowborough Milton Street Mayfield Splayne's Green Kingston near Lewes Barcombe Kemp Town Beckley Furnace Starr's Green Ringmer Flimwell Mountfield Hooe Snagshall Budlett's Common Stone Cross Earl's Down Three Leg Cross Glyndebourne Forest Row Langney Stunts Green Cackle Street Robertsbridge Sparrow's Green St Helen's Wood Whitesmith Rushy Green Mount Pleasant Selmeston High Hurstwood Wallcrouch Poundford Ringles Cross Windmill Hill Gun Hill Lunsford's Cross Roser's Cross West Hill Hazard's Green Glyne Gap Hurst Green Charlwood Fletching Cackle Street Birchden Horam Telscombe Cliffs Telham Hailsham Chapel Row Vinehall Street Hastings Peasmarsh Bevendean Udimore Lyewood Common Playden Winchelsea Crowhurst Brighton Churches Green Mark Cross Sutton Steel Cross Chiltington Mill Hill Hadlow Down Caneheath Hammerwood Chailey Cross in Hand Alfriston Waldron Eridge Green Upper Horsebridge Chapman's Town Highgate Iford Hollingdean Roselands Pevensey Bay Glynde Portslade Village Burwash Weald South Street Golden Cross Pett Newhaven Beddingham Turner's Green Lewes Berner's Hill Brede Shortgate Hove Rusher's Cross High Cross Hall's Close Eastbourne Jumper's Town Foulride Green Arlington Hollingbury Ford's Green Rodmell Willard's Hill Westdean Three Oaks Pevensey Fairlight Cove Laughton Jarvis Brook Ticehurst Salehurst Eason's Green Nash Street Flowers Green Coggins Mill Broomham Shortbridge Firle Combe Preston John's Cross Wood's Green Hangleton Union Street Bachelor's Bump Bishopstone Wannock Ripe Down Street West Blatchington Chapel Cross Magham Down Darwell Hole Aldrington Silver Hill Mark Cross Little Horsted Russell's Green Steven's Crouch Holmes's Hill Maresfield Park Rotherfield Litlington Terrible Down Polegate Beachlands Hellingly Coldean Rye Foreign Icklesham Maresfield Sweethaws South Malling Potter's Green Pebsham Lower Cousley Wood South Heighton Upper Wellingham Rye Harbour Patcham Black Rock Coleman's Hatch Muddles Green Mutton Hall Collier's Green Sharpsbridge Burlow Hawkhurst Common Friar's Gate Wickstreet Stonegate Ashburnham Forge Woodingdean Northbridge Street Fairwarp Whydown Brownbread Street Broad Street Grove Hill Boarshead Moulsecomb Little Common Ore Flackley Ash Exceat Northiam Argos Hill Beacon Down East Hoathly Denton Cowbeech Hill Staplecross Pounsley Chuck Hatch Swaile's Green Wellbrook Guestling Green Chelwood Common Blackboys Heathfield Dittons Lions Green