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Corporation Tax

Corporation Tax, Estate Planning
Our objective is to work closely with directors to ensure the company pays the minimum tax utilising all possible Tax avoidance measures an efficient way.

Our comprehensive range of services designed to minimise your corporation tax exposure including:

  • Determining the most tax effective business structure;
  • Achieving the optimum capital or revenue tax treatment;
  • Reducing tax on disposals and maximising relief on acquisitions;
  • Identifying any beneficial claims or elections;
  • Advance planning of any changes in tax law which might affect your business.

Are you an owner-manager of a limited company or a foreign company with a UK branch or office? If so, you must pay Corporation Tax (CT) on profits from doing business in the UK. You don’t get a bill, but rather need to work out what you owe, pay it and report your tax. Business accounts and limited company tax returns need to meet certain deadlines set out for filing. For Corporate Tax (CT), the filing deadline is twelve months after the end of your accounting period. We not only help clients comply with their Corporation tax obligations, but also often help reduce their overall tax liability by identifying tax efficiencies.

Taxable profits include the money your company makes from doing business (‘trading profits’). Investments and selling assets for more than they cost (‘chargeable gains’) are also subject to corporate tax. Sometimes we recommend a new business structure to reduce overall tax liabilities. Other changes may include paying yourself a salary or contributing to a pension pot. Planning capital expenditure and claiming all expenses you’re allowed may also help reduce your overall corporate tax. Do you do business across multiple countries (jurisdictions)? This may also affect your taxes.

Corporation Tax rates UK

In Summer Budget 2015, the government announced legislation setting the Corporation Tax main rate (for all profits except ring fence profits) at 19% for the years starting 1 April 2017, 2018 and 2019 and at 18% for the year starting 1 April 2020.

What is Corporation Tax?

Corporation tax is paid by businesses in the UK, and is calculated on their annual profits, in a similar way to income tax for individuals.  The corporation tax rate has been 19% for all limited companies since April 2016. Prior to this, the rate varied depending on the company’s profits.

Next Step:

Please contact us or call 0203 883 4777 if you need further advice, have any questions about our services in UK, or would like a free consultation or a fixed quote.