Company Tax Returns and Corporation Tax

If you manage a limited company in the UK, you are legally responsible for paying corporation tax and managing company tax returns. At Hysons, Chartered Accountants, we are experts in supporting services for all organisations, from newly formed companies to long-running businesses.

Using the information your bookkeepers provide, we can calculate and complete the management of company tax returns and corporation tax payments. Alternatively, we also offer full business bookkeeping support to provide a fully managed service.

With our support, companies can navigate performance and goals with a solid financial platform upon which to build.

Corporation tax

Who Needs To Pay A Corporation Tax Return?

Corporation tax must be paid on all profits made from running a limited company as a way to ensure the government is receiving the correct investment from UK businesses. In addition to covering money made in the form of profits, corporate tax is also calculated based on money made from selling assets or investments. To summarise, the tax applies to any profits made after expenses and overheads and must be paid within nine months of a financial year-end.

Aside from UK companies, corporation tax must also be paid by foreign companies who have UK offices.

When Do I Need To File Company Tax Return Paperwork?

Corporation tax is calculated as part of year-end financials. The deadline for this is twelve months after the end of an accounting period. However, the corporate tax return deadline is nine months after year end, proving how essential it is to get things processed rapidly at the end of a financial year.

What’s Included Within a Company Tax Return?

There are a few pieces of information required for a company tax return, and each must be accurate. Our team can help collate all of this as well as manage the duties that go into getting each one ready for submission.

  • A completed CT600 form
  • Any required supplementary documents relevant to a corporate tax return (our team can be recommended what these should be)
  • Full company accounts for the relevant financial period
  • Calculations that have led to the finalisation of company accounts

How To File Your Corporate Tax Return

You can submit corporate tax return information and pay it online via the official government database. While bookkeepers can submit accounting information, as they are not qualified accountants based on our experience, they can run into problems. Ensuring accurate and correct information is essential to ensure a business isn’t met with our costly fines.

At Hysons, we can manage the entire process from data collection through to submission.

Late Submission Of Company Tax Returns

When you work with the Hysons team, late submissions are never anything you have to worry about. As long as you submit all information to us as soon as the tax year has ended, we can guarantee that deadlines will be met.

If you submit a company tax return late, penalties range from £100 for being one day late to a 10% penalty for any unpaid tax for being a year late.

Why Choose Hysons For Corporate Tax Return Management?

  • We have a team of expert accountants who all have plenty of corporate tax management experience available to support clients.
  • Our experience spans all sectors and industries, meaning we understand all contributing factors.
  • By choosing our support, you can outsource all financial calculations from within a company, leaving time to work on other business activities. This also eliminates the chance of errors occurring.
  • We can also directly access various accounting and bookkeeping platforms, such as QuickBooks and Xero to gather the information needed to complete a corporate tax return.
  • Our team can also help you reduce tax liabilities through clever planning and strategic support.
  • The services we provide enables a full professional audit trail of submission. Furthermore, we can also help with any HMRC questions and/or investigations.
  • All of our accountants can also offer financial assistance for other aspects of business management, allowing coverage of all responsibilities with one supplier.

Corporation Tax Returns In Andover

There are many benefits of choosing Hysons to help with your corporation tax return:

  • We understand the latest rules and tax changes to ensure compliance issues are less likely to arise.
  • Our local office in Andover is the perfect place to meet and plan out the best way to manage corporate financial responsibilities.
  • We also offer remote advice and services meaning anyone can access our superior support.

Book A Free Tax Return Consultation

The best way to start managing corporate tax professionally is with our free consultation. During this session, we can suggest initial ideas to reduce tax, share how we can sort tax returns, and advise on future business development needs you may want to consider.

Our Andover accountants are ready and waiting to showcase how Hysons can transform the way you manage your corporation tax return.
Contact us now to book a free consultation.


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