Tax Returns in Wirral-Dufton Kellner

Corporation Tax Returns in Wirral

Corporation Tax is levied on the taxable profits of limited companies and other organisations. These include trading profits and investment profits, as well as capital gains.

Under the self assessment system, it is the responsibility of the company directors to calculate their corporation tax liability, file a Company Tax Return (CTSA Return) with HM Revenue & Customs, and pay the right amount of tax electronically, in line with a series of deadlines.

The CTSA Return can impose significant administrative burdens on businesses. Dufton Kellner can alleviate the strain by completing your Return on your behalf.

There are two rates of corporation tax, as follows:

  • The lower 'small profits' rate
  • The upper 'full' or 'main' rate

Marginal Relief can help to reduce corporation tax, where a business's profits fall between certain limits. The corporation tax rates and allowances are announced in the Chancellor's Budget each year - please contact us for the latest rates.

For corporation tax purposes, the financial year runs from 1 April to 31 March. If your business accounting period spans two corporation tax financial years, the company's taxable profits may need to be apportioned between the two years.

In contrast to other taxes, the deadline for paying corporation tax actually comes before the deadline for filing the company tax return. In some cases, payment of corporation tax is due in four quarterly instalment payments.

Dufton Kellner are experienced in all aspects of corporate taxation, and can liaise with HMRC on your behalf.

Dufton Kellner can prepare your Company Tax Returns, as well as calculating your tax liability and helping with the calculation of quarterly instalment payments if applicable.

We can also advise you on a range of strategies designed to minimise your corporation tax bill, and boost the bottom line, such as bringing forward expenditure, investing in plant and equipment, and making contributions to registered pension schemes. Please call us for further information and assistance with Corporation Tax Returns in the Wirral area.