Corporation Tax is a tax on your company’s taxable income or profits. You must tell HM Revenue & Customs that your company exists and that it is liable to tax.

For Corporation Tax, companies:

•    have to work out their own tax liability
•    have to pay their tax without prior assessment by the HM Revenue & Customs
•  are liable to penalties if they do not deliver a return by the statutory filing date, normally 12 months after the end of the accounting period.

Corporation Tax is due for ‘Accounting Periods’ which are normally 12 months long. Accounting periods can, in some circumstances be shorter than 12 months but never longer.

Our tax team will prepare your account on time to compute your tax and file it before the deadline to avoid any penalty. We also assess any tax savings (eg. capital allowances, loss relief) to reduce your tax liability.