Coporation Tax in Cantley

Get in touch

Corporation Tax Planning in Cantley

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 Cantley

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 DN3 3?

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 Cantley (South Yorkshire)

Get in touch

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


Skip to

Gallery

Other locations available for coporation tax
Gawber Onesacre Hoylandswaine Ryecroft High Green Pismire Hill Worsbrough Bridge Templeborough Cortworth Stairfoot Burngreave Kirk Bramwith West End Meadow Hall Hyde Park Wharncliffe Side Dungworth Letwell Oxclose Nutwell Hayfield Green Woodsetts Moss Parkhead Sunnyside Upper Tankersley Load Brook Shafton Hooton Levitt Holdworth Malin Bridge Adwick Le Street Snowden Hill Ardsley Brick Houses Eastfield Catshaw Hoober Keresforth Hill Eskholme Highfield Sheffield Park Dunsville Sandygate Rostholme Manor Estate Doncaster Worsbrough Dale Abbeydale Park Hermit Hill Bow Broom Owlerton Gildingwells Aston East Dene Cubley Wincobank Edge Mount Parkgate Greenhill Foldrings Wood Seats Kendray Cudworth Common Hall Broom Broom Sim Hill Cusworth Totley Brook Wheatley Bradway Morthen Bolehill Carter Knowle Whiston Spring Vale Bawtry Orgreave Moorends Austerfield Sykehouse Noblethorpe Bentley Berry Moor Hooton Roberts Totley Scout Dike Measborough Dike Mapplewell Spittal Houses Thorn Hill Under Tofts Park Hill Fenwick Micklebring Mortomley Hellaby Ecclesfield Bassett Ulley Brinsworth Tilts Totley Rise The Green Barugh Green Rossington Sprotbrough Dalton Parva Masbrough Pincheon Green Steel Bank Wombwell Brodsworth Braithwaite Stainton Sandhill Crow Edge Dean Head Soughley West Melton Worsbrough Common Loxley Goldthorpe Herringthorpe Brierley Tickhill Clifton Dodworth Maltby Sunnyfields Oxspring Crookes Wike Well End Ughill Waleswood West Green Monk Bretton Tinsley Hooton Pagnell Highgate Barugh Nether Haugh Royston Kimberworth Park Gleadless Darfield Smithies Thorpe Salvin Kine Moor Burghwallis Richmond Upper Cudworth East Herringthorpe Harden Brierholme Carr Old Edlington Tapton Hill Shaw Lands Hackenthorpe Walkley Todwick Cotterhill Woods New Edlington Frecheville Higham Common Platts Common Aldwarke Kirk Sandall Fullshaw Brightholmlee Conanby Hill Top Silkstone Common Ickles Ewden Village Hoyland Moorhole Wales Bar Charnock Hall Barnes Hall Batemoor Westfield Wickersley Low Valley Ecclesall Belle Vue Hazlehead Carr Townhead Worrall Lundwood Wadsley Newton Hangsman Hill Fir Vale Ravenfield Hill Top Hardwick Canal Side Lidget Turnerwood Hatfield Chase Hill Top Athersley North Thornseat Millhouses Hampole Low Barugh Barrow Owlthorpe Hatfield Woodhouse Four Lane End Drakehouse Lodge Moor Cundy Hos Intake Warren Staincross Hollins End Bolsterstone Swinton Hemsworth Swaithe Halfway Finningley Crane Moor Far Bank Dunscroft Firth Park Parson Cross Branton Stacey Bank Dodworth Bottom Deepcar Stannington Barnburgh New Totley Dalton Penistone Bromley Swinton Bridge Old Denaby Wheatley Park Stopes Sothall Warmsworth Bradgate Jordon Dodworth Green Throapham Almholme Handsworth New Rossington Maythorn Upper Hoyland Firbeck Highfields Midhopestones Eastwood Arbourthorne Gilroyd Sutton Jump Mosborough Billingley Broomhill Swallownest Kiveton Park Newhill South Lane Thurgoland Millhouses Blacker Hill Low Bradfield Pickburn Laughton Common King Edwards Smithley Fosterhouses Athersley South Upper Whiston Spital Hill Stone Hill Ringinglow Ingbirchworth Grimethorpe Intake Waldershaigh Lings, The Scawthorpe Waterside Wheatley Hills Scholes Harthill Milton Chapeltown Dunford Bridge Whirlow Brook Thurnscoe Auckley Brincliffe High Hoyland Moor End Woodhouse Mill Townhead Hillsborough Wath Upon Dearne Little Houghton Sheffield Denaby Main Finkle Street Low Laithes Bessacarr Green Moor Conisbrough Guilthwaite Lowfield Slay Pits Victoria Brampton Dinnington Hoyle Mill St Helen's Worsbrough Charltonbrook Grenoside Thorpe in Balne Thrybergh Castle Green Garden Village Shirecliffe Wingfield Owston Jordanthorpe Thurlstone Heeley Attercliffe Meadow Head Haigh Listerdale Waterthorpe Carlecotes Ranmoor Bolton Upon Dearne Birley Carr Ward Green Dore Whinney Hill Braithwell Coisley Hill Stockbridge Skelbrooke New Lodge South Anston Hood Hill Normanton Spring Beauchief Hill Top Brecks Wadworth Nether Edge Clifton Manor Park Elsecar Thurcroft Stainforth Fishlake Harlington Hickleton Kimberworth Middlecliffe Haywood Adwick upon Dearne Oughtibridge Brookhouse Lane End South Bramwith Askern Bentley Rise Fulwood Greystones Pinfold Hill Bramley Wilsic Greasbrough Kilnhurst Lindrick Dale Marr Norton Tinsley Storrs Darnall Mexborough Cantley Grimesthorpe Toll Bar Cat Hill Blaxton Cawthorne Stocksbridge Pogmoor Scawsby Stone Burncross Pilley Balby Hood Green Loversall Millhouse Green New Village Royd Moor Wortley Greenland Birley Edge Hoyland Common Raw Green Cadeby Arksey Long Sandall Higham Gleadless Valley Carbrook Wales High Bradfield Instoneville Carcroft Hatfield Norton Mawson Green Armthorpe Rotherham Shafton Two Gates Moorhouse Hill Side Silkstone Longley Estate Hay Field Meersbrook Birdwell Clayton Brampton en le Morthen Belle Green Wigtwizzle Hollow Meadows Wilthorpe Trumfleet Upper Haugh Catcliffe Pitsmoor Carlton Abdy Abbeydale Roughbirchworth Hexthorpe Royd Barnsley Topham Darton Cudworth Norton Woodseats Tivy Dale Ecklands Brightside Upper Midhope High Melton Slade Hooton Middlewood Whirlow Dalton Magna Parkwood Springs Lowedges Langsett Laughton en le Morthen Kingstone Plumbley Rawmarsh Barnby Dun Snape Hill Wadsley Bridge Thorpe Hesley Whitley Shiregreen Dropping Well The Parks Moorgate Sharrow Harley North Anston Cundy Cross Campsall Great Houghton Howbrook Wentworth Woodlands Holbrook Littleworth Edenthorpe Canklow Thorne Rollestone Beighton Aughton Treeton Potter Hill Doncaster Common Piccadilly Blackburn Skellow Kexbrough Woodhouse Hemingfield Windhill Thurnscoe East Crookesmoor