Corporation Tax

For more information and to arrange a free consultation, please contact us.

What is Corporation Tax?

Corporation tax is a tax charged on the taxable profits of doing business as;

Your responsibility:

Under Corporation Tax Self-Assessment (CTSA), the legal responsibility for correctly calculating the corporation tax liability falls on business owners and directors. Under the law business owners and directors are required to keep accounting records and prepare a company’s tax return to work out how much corporation tax to pay.

How is the corporation tax calculated?

The UK parliament sets corporation tax rates for each financial year which runs from 1st April. The current rate of corporation tax is 19%. All companies are required to prepare their annual statutory accounts and calculate their taxable profits and corporation tax charge.

After calculation of corporation tax charge and preparation of annual statutory accounts companies are required to file their accounts and tax returns with HM Revenue and Customs (HMRC) and pay their corporation tax.

How we can help?

At Eureka, we can help you with the following:

We can help you with registration of your company for corporation tax purposes
Preparation of your company’s statutory accounts and Corporation Tax Return (CT600)
Submission of Statutory accounts with Companies House
Submission of your company’s Corporation Tax Return with HMRC
Advise on how and when to make your corporation tax payment (if any)
We understand the issues facing owner-managed businesses and therefore can prepare corporation tax returns in a timely and efficient manner. We will also calculate your company’s tax liability and assist with the calculation of any quarterly instalment payments.
The increased reporting obligations, investigation policies on the part of the tax authorities and harsher penalties for non-compliance mean that your time and resources can be taken up with tax administration. We will help to minimise corporate tax exposure and relieve the administrative burden of compliance with current tax legislation. Effective corporate tax planning can also result in significant improvements in your bottom line.

For more information and to arrange a free consultation, please contact us.

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Edna Oyedi

March 15, 2023

Eureka is a reliable accountancy, they have provided me with day to day advice on how my business can grow and develop. They are easy to contact for assistance and guidance and they care about you as a person and your business as a whole. I do recommend Eureka accountancy.

Aftab Khan

January 31, 2023

Excellent service. I would strongly recommend for efficient accountancy. Just a phone call away, always ready to help. Very knowledgeable would always keep you right and up to date. Makes your life hassle free, will share all details required for your payrolls, other payments etc.

Zara World

January 31, 2023

I am new business owner, so i was very unfamiliar with the various structures and tax process. Eureka Accountants explained everything to me and made it very convenient and easy process for me overall. Great service and extremely helpful. Would recommend to anyone Thanks very much

Ali Zubair

January 31, 2023

As a small business owner, finding the right accountant is crucial for the success of my company. I am beyond grateful to have found this great accountancy firm who has been a valuable asset to my business for the past 4 years. They are trustworthy, diligent, honest and friendly, making the financial management process for my business seamless. Their expertise has allowed me to focus on growing my business while they take care of the finances. I highly recommend this firm to any small business owner in need of a dependable and knowledgeable accountant. Five stars all the way!