Corporate Tax & Planning
If Corporation Tax must be paid it is not just the paying of it that causes issues within businesses – it is the increased responsibility of additional reporting. Requested by HMRC, and the Government, the increased reporting requirements require resource and time internally which ultimately makes HMRC’s tax collection job easier.
As well as acting as the intermediary when necessary, SJPR can also assist in the completion of your corporate tax returns and end of year payroll returns.
As part of this service, SJPR can help you with determining the most tax effective structure for your business by taking full advantage of the tax opportunities and reliefs available. It is our job to make sure that you achieve the best capital or revenue tax treatment as well as reducing your tax on disposals and maximising relief on acquisitions.
There are also many tax opportunities available that are specific to certain industries. Our in-house team of experts are on hand to help you take advantage where appropriate.
Get in touch to now to find out more.
Corporation Tax compliance and planning
Every UK limited company must calculate, report and pay Corporation Tax on its profits. SJPR Accountants prepares your CT600 return, makes sure every allowance and relief is claimed and plans ahead so your tax bill never comes as a surprise.
Current Corporation Tax rates
- 19% small profits rate for profits up to £50,000
- 25% main rate for profits above £250,000
- Marginal relief for profits between £50,000 and £250,000
The limits are reduced where a company has associated companies or a short accounting period.
Our Corporation Tax services
- CT600 preparation and filing with iXBRL-tagged accounts and computations
- Capital allowances, including the Annual Investment Allowance and full expensing
- Research and development relief claims
- Group relief and the use of trading losses
- Director’s loan accounts and section 455 tax
- Profit extraction planning: salary, dividends and pension contributions
- Quarterly instalment payments for large companies
Key deadlines
Corporation Tax is normally payable nine months and one day after the end of the accounting period, and the CT600 return must be filed within twelve months. Large companies pay in quarterly instalments.
Planning ahead
Regular tax forecast meetings let you time investment, bonuses and dividends in the most efficient way, and avoid the cash flow shock of an unexpected bill.
Frequently asked questions
What is the UK Corporation Tax rate?
The main rate is 25% for profits above £250,000 and the small profits rate is 19% for profits up to £50,000, with marginal relief in between.
When is Corporation Tax due?
For most companies, payment is due nine months and one day after the end of the accounting period, and the CT600 return is due twelve months after it.
How can a company reduce its Corporation Tax legally?
By claiming capital allowances, R&D relief and all allowable expenses, using losses effectively and planning pension contributions and profit extraction.
What is section 455 tax?
It is a charge on loans from a close company to its participators, such as directors, that remain outstanding nine months after the year end.
Speak to SJPR Accountants. Call 020 3371 0292 or contact our London team to book a consultation.