Corporation tax can represent a substantial part of your trading costs. Moreover, the increased reporting obligations, robust investigation policies on the part of the tax authorities, and harsher penalties for non-compliance mean that an undue amount of your time and resources can be taken up collecting revenue for the Government.
Corporation Tax is payable on taxable annual profits made by Limited Companies and a variety of other organisations. The level of tax payable and the means of payment are dependent on the size of the profits generated. It is the company’s responsibility to:
- Inform HM Revenue & Customs that it is liable for Corporation Tax
- file company tax returns and supporting documents
- pay the correct amount on time.
Each requirement has a deadline and failure by companies to comply may result in them being charged interest and / or stringent penalties.
At DEB we offer a range of services to help you minimise your corporate tax exposure and relieve you of the administrative burden of complying with tax legislation. These include:
- Determining the most tax effective structure for your business
- Taking full advantage of tax opportunities and reliefs
- Achieving the optimum capital or revenue tax treatment
- Reducing tax on disposals and maximising relief on acquisitions
- Making the most of tax opportunities specific to your industry
- Meeting the rigorous demands of compliance including corporation tax self assessment
- Acting on your behalf in discussions with the tax authorities
Efficient corporate tax planning can result in potentially significant improvements to your bottom line
Please contact us if you would like a free initial consultation to explore how DEB Pro-active Support can assist you with your tax planning or, alternatively, call us today on 01226 245824. We look forward to your call.