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Reliable Corporate Tax Consultant UK for Best Outcomes
Galaxy Accountancy, team of specialists support all sizes of business, from small and medium-sized, startups, family businesses through to large corporates on a wide range of corporate tax issues. We cover everything from preparing tax returns to reducing taxes.
If you are running your own business, you want to focus on sales, marketing, looking after your customers and team, these are the important aspects to make your business tick and grow. But the numbers, accounts and administration of the business are equally as important, maybe just not as exciting. We can help you in the main areas of corporate accounting and tax.
Our Corporation Tax Advisor will help you with:
- All aspects of payroll
- Managing your compliance obligations
- Producing and submitting company accounts
- One off opportunities and challenges
- Completing relevant returns to HMRC and Companies House
- Helping you with Corporation Tax for growing and expanding your business.
These areas tend to overlap and to make sure you have all your books in order, know what your numbers are telling you and to make sure you and your company pay the least amount of tax possible. Our corporate tax consultant uk service will help you in the managing of these areas needs careful co-ordination.
Our Comprehensive Corporate and Business Tax Advice
Our corporate tax advisors team has an exceptional track record of successful claims for research and development (R&D) tax reliefs for our clients, as well as claims under the patent box legislation. We are acknowledged for our consistent ability to minimise income tax or corporation tax, reduce capital gains tax, extract profits tax-efficiently and make the most of capital allowances.
When is Corporation Tax Due
Corporation tax in London UK is normally paid in quarterly installments for companies with profits over £1.5 million. Deadlines are 6, 9, 12 and 15 months after the start of the accounting period.
However, installment payments are not required for small companies in their first accounting period if it is less than 12 months. Tax is paid in full 9 months and 1 day after the end of that period.
Installments are also not required if the total tax liability for the period is less than £10,000 (or less than £10,000 annualized if period is under 12 months). Or if profits are £10 million or less and the company didn’t exist in the prior 12 months or had profits under £1.5 million or tax under £10,000. In these cases, tax can be paid in full by the normal due date.
If final liability is lower than installments paid, the company receives a refund after filing the return. If liability is higher, a balancing payment is due 9 months and 1 day after the period end.
Even if no tax is due, the company must file the return by 12 months after the period end and notify HMRC of the nil payment.
Want to chat with us about any aspect of corporate service and tax, please use the form alongside to get in touch with us.