What is Corporation Tax in the United Kingdom?
In the UK, corporation tax is levied on profits earned by a business which is either a limited company or a company from a different country doing business in the UK. Corporation tax also applies to the profits earned through selling of assets provided that they are sold at a price higher than the cost. Apart from these two, Corporation Tax is also applicable on indirect earnings of a business through investments. A company is liable to pay their corporate tax within 9 months after the end of the financial year.
The rate of Corporation tax is currently set at 19%. The tax rate is applied on profits remaining after all expenses. It is important that a company maintains correct records of all expenses and earnings to accurately calculate Corporation Tax. Through careful and fair Corporation tax planning your business can be saving thousands of pounds every year. Similar to Personal Tax, Corporation Tax is also the responsibility of a company to calculate and pay every year to HMRC.
Why Choose Solvers Corporation Tax Services?
Accounting and Taxation are critical areas of your business that have a huge impact on your bottom line. Ideally, all of your accounting and taxation should be handled and managed by a qualified team of financial experts. Since Corporation Tax is a serious job for any organization, you simply cannot afford to have your financials being handled by amateur graduates. Solvers Accounting and Payroll Services provides Corporation Tax Services to businesses throughout the UK. Our financial team devises careful strategies to help you mitigate tax burdens in lawful and ethical ways in accordance with the corporate tax legislation.
Our Corporate tax team will identify key areas of improvement and can significantly increase your tax efficiency using a clear and straightforward approach. No matter the scale of transactions, revenue or profits, we are adept in handling any critical financial situations. We advise on critical and complicated financial and investment decisions considering eventual results.
Even if your business is a small to medium scale business looking for an annual corporate tax compliance, our ready-made and affordable corporate tax solutions are available to plug and play into your financial scenario at given stage. Our Corporate Tax team is experienced in handling out-of-hands financial matters with HMRC in a highly professional manner. We extend full support to start-ups and well-established corporations alike.
Outsourcing your financial activities to a reliable Finance and Accounting firm is also very cost-effective and reduces your overheads as compared to carrying an inhouse financial department.
Additional Areas of Corporation Tax Where Solvers Accounting and Payroll Services Can Help You
Solvers Accounting and Payroll Services can help you in effective corporate tax planning right from the start or at any point in your business journey. We also offer the following add-on services with Corporation Tax Services:
- Registration of new business for Corporation Tax
- Reactivation of a dormant business
- Company Accounting and Bookkeeping
- Preparation and plan out Company Tax Returns
- Pay off Corporation Taxes within deadlines