Every limited company that is based in the UK is subject to corporation tax on their profits. Limited companies that are non-UK based can still be expected to pay corporation tax.

The first thing you must do is register your company with HM Revenue and Customs (HMRC), using its official forms, so it knows you are liable for corporation tax.

If your company is liable for corporation tax, you must calculate how much profit your company makes for each accounting period and how much corporation tax is payable on those profits.

This information must be reported to HMRC on a corporation tax return form and accounts and tax computations must be submitted to HMRC in support of the return.

There are strict penalties for filing late returns and interest is charged on tax paid late, so it is important that the deadlines, which are determined by your company’s annual accounting date, are adhered to.

Our accountants can assist with the preparation of company accounts, company tax returns and tax computations and will also be able to provide advice on any tax planning areas that may benefit you and your company.

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