Coporation Tax in Lee

Get in touch

Corporation Tax Planning in Lee

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 Lee

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 SE12 8?

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 Lee (London)

Get in touch

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


Skip to

Gallery

Other locations available for coporation tax
West Brompton Crews Hill Shirley Hainault Belmont St Johns Ruislip Common Barwell Regent's Park Southall Oakleigh Park Wennington Coldblow Kingston Upon Thames Twickenham Westminster Higham Hill Spring Grove Hornchurch Wandsworth South Street Woodford Green South Ruislip Heston Tower Gardens Barnsbury Longlands Park Royal Kidbrooke Brentford Osidge Maida Vale Wood End Green Eastcote Village Morden Park South Tottenham Barnet Gate Addington Greenford Ruislip Manor Mitcham Northwood Hills Colindale Shacklewell Berrylands Canonbury Coulsdon Honor Oak Northolt Newyears Green Emerson Park Stratford New Town Gospel Oak Friern Barnet Seething Wells Highwood Hill Whitechapel Shooters Hill Northwood Barnet Barnes Hayes Rush Green Woodside Park Lee Harold Hill Norwood Green Haggerston Cubitt Town Pinner Green Lessness Heath Blackheath Harmondsworth Cranbrook Upper Clapton Corbets Tey South Croydon Soho New Cross Gate North Kensington Croydon Holders Hill Nunhead Kensington East Finchley Tottenham Grove Park Bromley Blackfen Perivale South Hampstead Dalston Upper Walthamstow Brixton Harrow Beckenham East Dulwich Brimsdown West Acton Queensbury Upton Park Hornsey Vale Grove Park Hackney Wick Lower Place Hammersmith Ramsden Acton Green Hatton Tooting Graveney Hatch End Woodford The Wrythe Blackheath Park Forty Hill West Ham Aldborough Hatch Crouch End Rosehill Elmers End Elm Park Foots Cray New Charlton Brompton Tottenham Hale Shortlands Hornsey Cudham Welling Hadley Wood New Addington Biggin Hill Willesden Green South Harefield Harrow on the Hill Lisson Grove Whitton Gunnersbury Pinner Foxbury Harold Park Tulse Hill Millwall Clock House Bandonhill Barkingside Canning Town Notting Hill Carshalton on the Hill Southborough North Acton Hounslow Fairlop Nine Elms East Ham Aldersbrook South Wimbledon Eltham Highbury Sutton Collier Row Woodlands Berry's Green Roundshaw Strawberry Hill Walham Green Edmonton Wapping London Park Langley Lewisham South Hornchurch Morden Crayford Southborough Dollis Hill Horns Green Ardleigh Green East Acton St Luke's West Kensington Wallend Sudbury Headstone Ilford Wanstead Woodford Wells Chessington Thornton Heath Collier's Wood Chadwell Heath North Harrow St Margarets Pentonville Broad Green West Kilburn Stepney Preston North End Russell Hill Pimlico College Park Orpington Kilburn Putney Heath Chislehurst West Kenton Copse Hill Waddon St Giles Woodford Bridge St Pancras Shepherd's Bush Norwood New Town Aperfield Walthamstow Upton Havering-atte-Bower Brook Green Stamford Hill Rowley Green Rainham Camden Town Southend Rushmore Hill Muswell Hill Bedford Park North Woolwich Chelsfield Marks Gate Hanwell Child's Hill New Southgate Kingsbury Hayes Town Barnehurst Arkley Elmstead Somers Town Summerstown Fullwell Cross Cricklewood Bermondsey Woodside Botany Bay Selsdon Manor Park Eden Park South Bromley Goodmayes Downe West Ruislip Knight's Hill Wealdstone Dagenham Dudden Hill Broom Hill Honor Oak Park Burnt Oak Cowley Upper Norwood Osterley Grange Park Hackney New Beckenham South Acton Fair Cross Richmond Limehouse Upper Sydenham Wembley Church End Bexley Wimbledon Little Ilford Noel Park Old Bexley Finsbury Park New Eltham Stratford Marsh Dulwich Ruislip Gardens Greenhill Dormer's Wells North Ockendon Penge Sidcup High Barnet Beddington Merton Anerley Bow Common Whetstone Lampton Ham Neasden Hampstead Winchmore Hill Brondesbury Bell Green Woodcote Chingford Green Woolwich Chiswick West Hampstead West Green Kensal Rise Harefield Grove Camberwell De Beauvoir Town Upper Tooting Chelsea Bowes Park Becontree Northumberland Heath Leaves Green Barnes Cray Lambeth Hoxton Cole Park Harlington Belgravia Kenley Charlton Blackwall Shoreditch Ruxley North End South Hackney Plaistow Vale of Health Stockwell Freezy Water Ealing Woodcote Green Enfield Wash Upper Shirley Shadwell Pratt's Bottom North Hillingdon South Kensington Carshalton Beeches Harefield Totteridge Castle Green North Wembley Underhill Forestdale World's End Spring Park Islington Upminster Spitalfields Ruislip Ickenham Plashet Clayhall Slade Green Hampton Hill Fortis Green Upper Elmers End Harrow Weald Creekmouth Redbridge Newbury Park Parsons Green Hockenden Tolworth Highgate Luxted Streatham Vale Roehampton Temple Mills South Harrow Coney Hall Barking Westbourne Green Abbey Wood Acton Dartmouth Park St George in the East Hampton Bayswater Uxbridge Moor Erith Marylebone Custom House Hayes Silvertown Old Malden Downham Herne Hill Mortlake New Barnet Sands End St John's Wood Hackbridge Leytonstone Maitland Park Deptford Hadley Norbiton Furzedown Plaistow Derry Downs Hacton Keston Mark Sanderstead Chingford Hatch Hither Green Peckham Cranford Hayes End Wallington West Heath Alperton North Feltham Hounslow West Chase Cross St Mary Cray Little Stanmore North Finchley Hook Seven Kings Wandle Park Church End Eastcote Merton Park Forest Gate Wembley Park West Norwood Green Street Green St Paul's Cray Stanmore Mill Meads Teddington Bulls Cross Mount Pleasant Cowley Peachy North Cray Stoke Newington Clay Hill Enfield Town Enfield Highway North Cheam Sipson Tufnell Park Edgware Cheam Bushey Mead Bromley Earl's Court Lower Sydenham Ponders End West Hill Colney Hatch Rayners Lane Mill Hill Yeading Chislehurst Nash Belmont West Barnes Widmore Kingston Vale Cottenham Park Harold Wood Feltham Forest Hill Oakwood Hale End Homerton The Borough Lower Holloway Keston Hanworth Isle of Dogs Chipping Barnet Colham Green West Dulwich West Hendon Old Ford Palmers Green Walworth Eastbury West Ealing New Malden South Norwood Streatham Hill Beddington Corner Monks Orchard Cockfosters East Barnet Isleworth East Sheen Fulham Purley New Cross Bethnal Green Selhurst North Hyde Brondesbury Park Goddington Lower Edmonton Motspur Park Longford Newington Cranham Snaresbrook Heath Park Poverest Poplar Petts Wood Lea Bridge North Sheen Vauxhall Stonebridge Clerkenwell Paddington Harlesden St Helier Lower Feltham Hampstead Garden Suburb Enfield Carshalton Welsh Harp Monken Hadley Crofton Little Heath Coombe West Harrow Norbury Upper Holloway Kensal Green Uxbridge Finchley Kingsland Canons Park Putney Vale Bellingham Locksbottom Noak Hill Old Oak Common Bromley Park Knightsbridge Balham Ducks Island Bexleyheath Ratcliff Surbiton Petersham Malden Rushett Hill End Maypole Harringay Hillingdon Heath Yiewsley The Hyde Willesden South Lambeth Earlsfield Kennington Benhilton Strand Hazelwood Brentford End Leyton Highams Park East Bedfont Hillingdon Tokyngton Addiscombe Plumstead Common Thamesmead Farnborough Greenwich Streatham Southgate Chingford Putney Roxeth Cranley Gardens Plumstead Bow Kensal Town Falconwood Coldharbour South Beddington Clapton Park Crooked Billet Golders Green Loxford Mayfair Raynes Park Primrose Hill Mile End Battersea Friday Hill Wood Green Enfield Lock Globe Town Holborn Bickley Kentish Town South Woodford West Wickham Little Woodcote West Drayton Streatham Park Rise Park Rotherhithe Dulwich Village Gallows Corner Brunswick Park Bush Hill Park Gidea Park Bromley Common Finsbury Gants Hill Clapham Park Pinnerwood Park Kevingtown Bloomsbury Catford Hendon Southfields Romford Avery Hill Lower Clapton Belvedere Clapham Sundridge Mottingham Upper Edmonton Worcester Park East Wickham Beckton Holdbrook St James Old Coulsdon Ladywell Kew Stroud Green Hampton Wick Brockley Stratford