Corporation Tax

Corporation Tax

Corporation Tax planning is essential.

Corporation tax is the tax applied to profits made by a Limited Company. The small company rate is currently 20% after taking account of allowable business expenses and capital allowances. Planning for the annual tax bill is vital to managing the business’ cash-flow and any interim dividend payments.

All active UK companies are required to file corporation tax returns nine months after the year end date (ARF-Accounting Reference Date). However, to arrive at this point there is a quagmire of regulations, tax rules and allowances that can prove to be a confusing journey for any small business. Failure to comply can result in penalties and increased costs incurred to correct mistakes and lack of understanding. Seeking quality advice from our experienced Accountants will provide piece of mind and ensure that all the Company’s tax affairs are accurate and up to date throughout the year.

Letting you get on with what you do best

We at Gibson Accounting understand that our clients want to concentrate on what they do best, running their business, which is why they trust us to effectively manage any potential corporation tax liability so they don’t have to. Our many years’ experience in tax accounting means we have a full understanding of how corporation tax affects your business, the allowances available and how to make the most use of them. This enables us to assist with effective corporation tax planning. We aim to offer a no jargon, no nonsense service using plain English to increases your understanding and allow you to focus on building your business without the worry of your company’s tax liabilities.

As with all business tax, knowing how to make the most of the available tax allowances and how your business plans impact the Company’s future tax liabilities, allows you to effectively plan for the future. To find out how the team at Gibson Accounting can help you plan for your company’s corporation tax liabilities, simply contact us via the below contact form to arrange an appointment to discuss your options.

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