Corporation tax

Corporation tax should be paid nine months and one day after your year-end and your corporation tax return needs to be submitted within twelve months of the year-end.

Logical and easy to remember? – not so much.

The rate of Corporation tax for smaller companies is set to rise from 19% to 22% in the coming years and so tax planning becomes more valuable, particularly for owner-managed business which have some alternatives for how to remunerate the shareholder / directors.

During your financial year it's important to make a provision in your management accounts for corporation tax. This will avoid nasty surporses after the year-end and reduce the risk of taking too much money as a dividend.

When we look at your company accounts we also think about tax implications and help you to develop a joined-up strategy for tax, as well as hitting the various deadlines for making payment and submitting the returns.