Filing of Corporation Tax/Business Tax is mandatory for all companies registered in the UK, and this filing applies to ventures that even face losses. For all purposes of computation, the Annual Accounts will be considered to extract the profit or loss and calculate applicable taxes after factoring in eligible reliefs.
More often than not, it has been our experience that businesses miss out the fact that filing a CT Return is different from paying it. Both have different deadlines, and this is perhaps the reason for delayed payments. You need to pay your CT first and file your return later.
We have dedicated teams working on CT with vast experience on permitted reliefs such as R&D Tax Relief, Tax Free Allowances/Expenses, Brought-forward Losses and Gains. The applicability of reliefs is an area of specialisation, which makes the difference between a successful claim and one that gets penalised.
Our services in Corporation Tax Returns include:
- Business Tax computation
- Compiling CT600
- Online filing of CT600 with HMRC
- Capital allowance calculations
- Apportioning profits between financial years
- Carrying forth losses
- Responding to HMRC inquiries on behalf of client
Our business tax advisory services are designed to take the burden off the shoulders of clients totally with professionals handling every single aspect of the requirements. More like an end to end service offering, we fully understand the challenges faced by businesses in computing, compiling, remitting and filing of returns.
We carefully analyse the financial statements and transactions, which helps us to compute corporation tax liability. Subsequently, the corporation tax return gets prepared on time, which is then filed with the HMRC. Vital to the meeting of deadlines in remitting and filing is the need to have business accounts constantly updated.
Our teams take great care to ensure that all accounts are up to date, which helps us to complete the filing seamlessly and without hassles. We closely liaise and follow up with clients to receive the raw data which is required for updating the business accounts on a regular basis, at pre-determined frequencies, as per the convenience of the clients. The frequency is typically suggested, keeping in mind the volumes of data that will be required to be updated, and the working hours of the client’s business, so that the updated data is refreshed and made available to the client as a matter of routine.
At Target Accounting, the effort is always to chalk out a strategy for managing the tax affairs of clients in a manner that keeps liabilities low, without indulging in actions that would invite penalties or adverse HMRC enquiries. Our services are designed to help entities across the business accounting and tax management spectrum.
We help manage your relationship with HMRC, by taking care of your tax management and compliance.
Our professionalism, reliability and high levels of integrity will help you maintain your focus on core business activities without apprehensions of incorrect remittance, filing or missing of deadlines.