Company tax planning

In good company

Every company operating or incorporated in the UK has to consider whether it must submit a corporation tax return to HMRC each year, even if they’ve made no profit and owe no tax. Meeting the statutory 12-month submission deadline is important if a company doesn’t want to face any penalties or fines, and the earlier you know your tax liability for the year (which may fall during or after the company year end) the better you can plan. 

Your corporation tax return isn’t just your opportunity to stay in HMRC’s good graces, but also an opportunity to deploy effective tax planning that can also save money in the long run. 

With our trained eyes, we can run through your accounts and determine where savings can be made or advise on actions to be taken that will make your tax expenditure both compliant and efficient. 

There are a range of tax reliefs and credits available for companies to take advantage of which will become even more important as corporation tax rates increase. For example, we are experts in working with companies to identify whether they carry out qualifying R&D and maximising the relief rightly due to them. Our aim is to work with you to add our expertise of the relief to your knowledge of your business to produce a robust, effective, and technically correct claim for submission to HMRC. 

Another good example relates to the circumstances, some not immediately apparent, where companies can claim relief for capital expenditure. We can review and analyse all capital expenditure, whether it is the acquisition of a new building, or refurbishment of an existing property in order to identify and make sure all reliefs due are claimed. 

The tax treatment of corporate acquisitions and disposals can be complex, but these events do present opportunities to carry out transactions in a tax efficient manner.

Get in touch with us today, to find out how we can help you achieve your goals.