Corporation Tax

Taxes on companies and businesses

It is the responsibility of any limited company, as well as certain other bodies such as charities and co-operatives, to pay a sum of corporation tax in proportion with their profits. It’s vital that you ensure that the appropriate taxes are paid, or you could easily find yourself in hot water with HMRC.

Starting out with corporation tax

If you’ve only just started operating your company, you’ll need to understand what corporation tax is. You’ll also need to be aware of how soon you need to inform HMRC about your new liability for corporation tax, as well as what you are required to do.

If you’re not sure that you need to pay, it’s worth looking into corporation tax exemptions, as well as accounting periods which determines when you will have to pay your tax for certain timespans.

Managing corporation tax

It’s vital for any business owner to understand their corporation tax liability, in order to make sure that they stay on the right side of HMRC. Keeping up with your corporation tax payments is an absolute necessity, as is informing yourself about the importance of the tax rates and financial years involved.

Corporation tax planning is a necessity if you don’t want to be caught short when the taxman comes calling, and managing your cash flow is a major part of this. Additionally, in order to make sure that you do not over- or underpay HMRC, calculating your corporation tax correctly is worth taking some time to do.

Professional help with corporation tax

If you are unsure about corporation tax, it’s worth enlisting a professional in the field, or you could be risking your business. Our Find a Solicitor service could help you find the expert you need to ensure that your corporation tax is paid correctly and on-time.

Companies and corporation tax

UK company tax laws state all businesses which operate within a certain field are required to be subject to a certain degree of company taxation.

Everything you need to know about HMRC

The HM Revenue and Customs department, or HMRC, is responsible for maintaining tax regulations and collecting taxes throughout the UK.

Finding the corporation tax solicitor for you

Many companies will seek the advice of solicitors who specialise in corporation tax laws in order to ensure that their taxes are properly calculated.