Corporation tax services
Providing assistance with the organization and submission of your company's tax return.
Engage directly with HMRC to ensure accurate tax payments, offering competitive rates without any undisclosed additional charges, all while receiving excellent customer support.
Corporation tax return (CT600)
All Limited Companies are required to submit a Corporation tax return, also known as the CT600 form, to HMRC within 12 months following the end of the financial year.
To begin this process, you must inform HMRC that your company is liable for corporation tax. Once your company falls under this tax category, you need to determine the profit earned during each accounting period and calculate the corresponding tax amount.
It’s important to note that the maximum duration for an accounting period is 12 months. Therefore, although the CT600 form is not due for another year, the tax payment must be made within nine months and one day after the end of the financial year. Failure to meet these deadlines may result in penalties and potential interest charges. To confirm the exact fiscal year end of your company, you can refer to the Companies House website.
Corporation Tax, like various other taxes in the UK, can be intricate. Seeking assistance from a professional tax advisor can aid in developing strategies to minimize your tax obligations.
Individuals, sole traders, and partnerships are exempt from paying Corporation Tax but are required to submit self-assessment tax returns, also known as Personal Tax Returns or SA302 forms.
Penalties for late filing of the CT600 company tax return
If you miss the deadline to file your company tax return, fines can mount up very quickly, and HMRC may charge you one of the following fines for up to a year:
- One day late: £100 penalty
- Three months late: Another £100 penalty
- Six months late: An additional penalty of 10% of your estimated corporation tax bill. HMRC makes this estimate, and you are unable to appeal against it.
- Twelve months late: Another 10% penalty on your estimated corporation tax bill.
Need to do a corporation tax return for your company?
Contact us now and have a conversation with our skilled tax advisors. Our aim is to simplify the entire process of filing your company tax return, ensuring a hassle-free experience for you.
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Planning
Our expert advisors will guide you in choosing the most tax-efficient business structure or equity planning, making tax planning a crucial step.
Tax reliefs & opportunities
We’ll ensure you understand and utilize all available tax reliefs and opportunities to maximize your eligible benefits.
End-to-end service
We will not only calculate your CT600 and submit it to HMRC on your behalf but also answer any questions HMRC may have.
Never miss a deadline
As your accountants, to keep you on track with timely submissions. We proactively work on your accounts, ensuring no missed deadlines.