Our Corporation Tax services are helping business owners like you pay exactly what they owe. From identifying eligible tax deductions to implementing tax-saving solutions, our services not only guide you through the complexities but also transform Corporation Tax into a tool for financial growth.
Welcome to Guildford Accounting, Corporation Tax accountants
At Guildford Accounting, we have over 30 years of experience helping clients save time, money and stress by tailoring our tax services to their business needs. Whether you’re a small business or a larger enterprise, our team has the experience and knowledge to guide you through the intricacies of tax liability.
We are trusted by many local and UK-wide businesses to keep their tax affairs in order. We’ll help you plan your tax so it turns from a dreaded liability to a routine expense that won’t affect your business or mental health.
Our Corporate Tax services go beyond just compliance management. We are here to save you money on taxes, reduce the admin and empower you with financial expertise.
Book a call with our team for expert tax advice for your business.
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What is Corporation Tax?
Corporation Tax (also known as Company Tax or Corporate Tax) is a tax obligation that limited companies and other organisations must comply with.
If you are a small or medium business registered with Companies House and make a profitable income, then you will be subject to pay Corporation Tax. You are responsible for working out your Corporate Tax liability and paying the bill through a Corporation Tax return.
At Guildford Accounting, we’ll ensure you pay your Corporation Tax returns on time, keeping you compliant with HMRC.
How is Corporation Tax calculated?
Corporation Tax is calculated based on your company’s profits, and working it out takes a handful of steps.
We understand that as a busy entrepreneur, you may not have the time or even know where to start when it comes to your Company Tax return.
We’ll take the lead, so you don’t have to worry about calculating profits, getting your head around deductions and communicating with HMRC. Our team will handle the process with expert advice and careful guidance every step of the way:
- Determine the profits: we’ll dive into your business earnings before any tax deductions have been made, checking everything is as it should be.
- Deduct allowable expenses: the next step is deducting all relevant expenses to save your business more of its profits.
- Apply the relevant tax rate: we’ll ensure the correct tax rate is applied so you are not paying more than you owe.
- Calculate your Corporation Tax bill: we’ll then calculate your liability and determine exactly what you owe.
- Make the payments: we’ll handle your payments, ensuring they are timely and accurate.
When does a business need to pay Corporation Tax?
Just as sole traders pay Income Tax, incorporated companies are subject to Corporation Tax. There are some circumstances where companies aren’t required to pay, but ultimately, if a company is profitable, it is expected to pay Corporation Tax.
We’ll help you figure out your tax liabilities regardless of what stage you’re at. Plus, if you are not yet at the point of becoming a limited company and want support to do so, we’ll also be able to guide you through that process.
Simply get in touch with our friendly accountants, and we’ll be more than happy to advise.
Our Corporation Tax service
Spend more time growing your company when the tax burden is lifted. We not only ensure compliance, saving you from potential penalties but also strategically optimise your tax position. So, sit back, relax and let us handle the finer details.
Make the most of our specialist Corporation Tax services:
- Maximise savings and limit your tax liabilities
- Strategic tax planning for companies and directors
- Easy and understandable tax compliance services
- Tailored strategies crafted for your business
- Timely and accurate Corporation Tax returns
Get your Company Tax return filed with Guildford Accounting
We understand the struggles of juggling the demanding tasks of running a growing business while managing the various tax and accounting tasks that keep cropping up. That is why, at Guildford Accounting, we have created a tailored and transparent service with clear pricing to help make managing your taxes smoother.
We’ll take the weight off your shoulders when it comes to Corporation Tax, handling everything from compliance right through to submitting your tax returns. Plus, in the event of a dispute, we’ll ensure all is taken care of, liaising with HMRC on your behalf.
If you are looking for a professional accountant to assist with a tricky tax return or simply need some Corporate Tax advice, then get in touch today – we would love to help you!
Frequently asked questions about Corporation Tax
For more information about your tax liabilities, take a look at some of our FAQs below.
How does Corporation Tax affect a business?
Corporation Tax can impact a business as it may come as an unpleasant surprise at the end of the year, affecting cash flow, investment plans and overall financial health. With careful and timely planning, the effect of Corporation Tax on your business operations is less detrimental.
Who is exempt from Corporation Tax?
In the UK, there are a few instances where your company may be exempt from paying Corporation Tax. These usually include charities and other not-for-profit organisations.
What is the difference between Corporation Tax and VAT?
Corporation Tax is paid on the annual profits, whilst VAT is a type of goods and services tax that is paid on sales revenue every quarter throughout the year.
How long do I get to pay my Corporation Tax?
Your Corporation Tax return varies based on your business’s accounting period. Most companies have 9 months after the company’s financial year end to report and pay Corporation Tax.