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Corporation & Company Tax Returns

Corporation tax advice and services by experienced accountants

Every limited company that is based in the UK is subject to corporation tax on their profits. Let our London based expert accountants handle your company tax returns.

Every Limited Company and Partnership should complete a tax return to declare your business income to HMRC and claim any tax allowances. You should submit a Company Tax Return and Company Statutory Accounts to the HMRC, which should include how Corporation Tax was calculated, including a Profit & Loss Account which is different to your Profit & Loss account for statutory accounts. Your profit/loss and tax allowances are calculated to determine how much you owe HMRC in corporation tax.

The corporation tax rate is currently set at 19%. With corporation tax reliefs and rates changing on an annual basis, it’s important to make the most of all of the exemptions, allowances and deductions available for tax returns calculations. Our specialist small business tax accountants cover all aspects of technical tax guidance your small business may need. We spend time with you to understand your circumstances, minimising tax and the best way to structure your business for growth and risk mitigation.

Related Services
  • Annual Accounts prepared & Submitted
  • Corporation Tax Return prepared & Submitted
  • Filings with Companies House
  • Filings with HMRC
  • Annual Tax Return Filings
  • Dedicated Accounts Manager
  • Tax compliance and advice
  • Calculating tax liability
  • Making the most of reliefs, tax losses and deferment opportunities
  • Capital gains tax
  • PAYE & NI (National Insurance) contributions
  • Tax scheme
  • Review company taxation affairs and position
  • Correspondence with HMRC
Muhit and co Whitechapel accountant

What is the Corporate tax rates and breaks?

Small businesses benefit from lower rates of corporation tax than larger corporations and several additional tax breaks for small businesses have been created in recent budgets. Currently, the Corporation Tax rate for small businesses is set to 20%, which is due to reduce to 17% in 2020.

Staying on top of the changing legislation and carefully considering other personal income and pension arrangements, can lead to some significant tax savings, especially if there is scope to spread out earnings over a number of years.

Are there any penalties for failing to submit company tax returns?

Delayed by 1 Day £100 Fine
Delayed by 3 Months Additional £100 Fine
Delayed by 6 Months HM Revenue and Customs (HMRC) estimate Corporation Tax bill and add 10% penalty to unpaid tax
Delayed by 12 Months Additional 10% on Unpaid Tax

What is the deadline to file your Corporation Tax Returns?

Businesses typically need to file a corporation tax return 12 months after the end of their accounting period.

Deadline
File Company Tax Return (CT600) 12 Months from Accounting Period
Pay Corporation Tax) 9 Months and 1 day from ‘accounting period’ for Corporation Tax

What is Corporation & Company Tax Returns

A corporation tax return should be annually submitted to the HMRC with calculations based on the profit or loss you have made and any expenses or allowances claimed throughout the company’s financial year.

Muhit & Co accountants are a leading accounting firm in London

Experts Accountants for Small & Medium Businesses in Whitechapel, Brick Lane London.

Muhit & Co Certified chartered accountants is a widely-established firm which has a network that spreads across London with an office located at Whitechapel in Central London . The firm has been established since 2004 with a team of qualified accountants and tax specialists who have various industrial experience. We work with a large number of local businesses, sole traders and Individuals helping them achieve their goals through our pro-active and informative service.
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