Corporation Tax in the UK: A Guide for Businesses
Compliance with UK corporation tax regulations helps businesses optimise their financial strategies while avoiding penalties and legal issues. The UK’s tax landscape is characterised by a range of reliefs, incentives, and compliance requirements that businesses must navigate to minimise their tax liabilities and avoid penalties. While the tax rates and rules can seem daunting, understanding […]
Guide to Paying Corporation Tax in the UK
Corporation tax is a tax levied on the profits of companies operating in the UK. It’s a fundamental component of the UK tax system and a significant source of revenue for the government. Companies, including limited companies, foreign companies with UK branches, and certain unincorporated associations, are liable to pay corporation tax on their profits. Understanding how corporation tax works, including the […]
CT600: How to File Your Company Tax Return
Among the financial and reporting obligations on limited companies in the UK is the requirement to notify HMRC of annual corporation tax liability. This requires the company to: Inform HMRC that their company is liable to pay corporation tax. Pay the tax due on time. File the company tax return (CT600) along with any other […]
Corporation Tax Payment Deadline
Each year limited companies are required to pay corporation tax to HMRC on their profits and file a company tax return (CT600). It’s important to check when your corporation tax is due as late payment can lead to penalties from HMRC. When is your corporation tax due? The corporation tax payment deadline for […]
How to Claim Terminal Loss Relief
If a company is operating at a loss, the difficult decision may need to be taken to close operations permanently. Still, even though the business will no longer be trading, it is important not to miss out on valuable tax relief that can often be overlooked. When it comes to the complexities of tax relief […]
Corporation Tax & Trading Loss
If your company or business makes a loss from trading, the sale or other disposal of a capital asset, or on income from property, and it is liable to pay Corporation Tax, relief for corporation tax losses may be available. Tax relief for corporation tax losses is obtained by offsetting the loss against other profits […]