Every limited business located in the United Kingdom is liable to corporation tax on its income. Limited corporations established outside the United Kingdom are nevertheless required to pay corporation tax.

The first step is to register your business with HM Revenue and Customs (HMRC) using their official documents, so they know you are responsible for corporation tax.

If your firm is subject to corporation tax, you must determine how much profit it produces in each accounting cycle and just how much corporation tax is due on those earnings.

This information must be provided to HMRC on a corporate tax return form, as well as supporting accounting and tax calculations.

There are stiff penalties for late returns, and interest is levied on late tax payments, so it is critical that the deadlines, which are defined by your company’s annual accounting date, be met.

Our accountants can help you with the production of corporate accounts, tax returns, and tax calculations, as well as providing advise on any tax planning areas that may benefit you and your firm.