What do I need to know about corporation tax?
If you run a limited company, corporation tax can be one of the largest tax liabilities - and one of the biggest administrative burdens - you'll face. It’s necessary to register for corporation tax when starting a new business or when reviving a dormant business. BSR Bespoke’s experienced team can give you all the corporation tax advice you need and can calculate your company’s corporation tax liability and report it to HMRC. By following professional guidance, you will have complete confidence that you are complying fully with tax legislation, as well as helping you keep your tax exposure to an absolute minimum.
What is corporation tax?
Corporation tax is an annual tax on profits from doing business as a limited company, a foreign company with a UK branch or office, or a club, association or a co-operative - for example, a sports club. Taxable profits for corporation tax include the money made from business activity (trading profits), investments, and selling assets for more than they cost (chargeable gains). If your company is based in the UK, it pays corporation tax on all its profits from the UK and abroad. The current rate is 19%. If you are interested in finding out how we can support you and your company, please come and talk to us. We offer bespoke corporation tax advice and services for maximum tax-efficiency.
Our corporation tax advice services in Tunbridge Wells include:
- creating an efficient tax structure for your business
- exploring tax reliefs and allowances such as the annual investment allowance, the super deduction and enhanced capital allowances.
- claiming research & development tax reliefs
- claiming capital allowances, including integral features of properties
- preparing company tax returns in a timely and efficient manner
- calculating quarterly instalment payments when required.
- advice on paying corporation tax if your company is based abroad but has an office or branch in the UK