Corporation Tax Services
At Griffith Accountants Ltd, we offer a full range of corporation tax services designed to meet the needs of small businesses, micro-enterprises, and growing companies. Whether you're navigating the complexities of a start-up or managing an established company, our tailored tax strategies help you maximise tax savings and ensure full compliance with HMRC.
Our Corporation Tax Services Include:
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CT600 Preparation & Submission
We manage the complete process of preparing and submitting your CT600 to HMRC. Our team ensures every aspect of your corporation tax return is accurate and compliant, helping you avoid unnecessary penalties and late fees. We handle everything from calculating your taxable profits to completing the submission.
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Tax Reliefs and Allowances
Claiming the correct tax reliefs can reduce your corporation tax bill significantly. We help you claim Annual Investment Allowance (AIA) for equipment purchases, Research & Development (R&D) tax credits for innovation-focused businesses, and capital allowances on business assets, vehicles, and more. We ensure you’re aware of every eligible tax relief, so you never miss a savings opportunity.
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Profit Optimization & Tax Planning
Our expert tax planning service ensures that your business is structured for tax efficiency. We review your company’s financials to identify ways to minimise your tax liabilities through strategic profit allocation, dividends, and effective use of tax-deductible expenses. Our goal is to maximise profits while ensuring you pay the lowest possible tax rate.
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Tax Compliance and Advisory
Staying up to date with HMRC’s ever-changing tax regulations can be challenging. We provide ongoing tax compliance support, ensuring that you meet all filing deadlines and that your returns are prepared in line with the latest tax rules. We also offer proactive tax advice throughout the year, guiding you on making tax-efficient business decisions.
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Handling Corporation Tax Losses
If your business incurs losses, we help you leverage them by applying corporation tax loss relief, allowing you to carry losses forward to future years or offset them against previous profits. This can provide a valuable cash flow benefit, particularly for start-ups and businesses in challenging phases.
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Capital Gains Tax on Business Assets
When your company sells assets at a profit, it may be subject to Capital Gains Tax (CGT). We help calculate and report any chargeable gains, ensuring you claim reliefs and exemptions to reduce your tax liability. Whether you're disposing of property, shares, or equipment, we ensure you minimise your tax bill.
Corporation Tax for Different Industries
We provide tailored tax advice for a variety of industries, including construction, technology, hospitality, retail, and more. Each industry has unique corporation tax considerations, and we use our expertise to ensure your business remains compliant while taking advantage of sector-specific tax reliefs.
Key Corporation Tax Deadlines
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Corporation Tax Payment: Due 9 months and 1 day after your company’s year-end.
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CT600 Filing Deadline: 12 months after your company’s financial year-end.
We’ll ensure you never miss these deadlines by providing timely reminders and setting up payment plans to manage cash flow.
FAQs About Corporation Tax
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What is Corporation Tax?
Corporation Tax is a tax that limited companies pay on their profits. The current rate is 19%, but it is set to change in the coming years. Proper planning and strategic advice can help reduce the amount of tax your business owes.
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What Expenses Can I Deduct from Corporation Tax?
Deductible expenses include business travel, salaries, equipment purchases, marketing costs, and more. Non-deductible expenses, such as client entertainment, must be excluded. We help you categorise these correctly to ensure accurate filings.
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What is a CT600 Form?
The CT600 is the form used by UK companies to file their annual corporation tax returns. We manage the entire filing process, ensuring your return is accurate and filed on time.
Stay Compliant with HMRC's Making Tax Digital (MTD) Initiative
Under HMRC’s Making Tax Digital (MTD) scheme, all companies are required to submit tax returns digitally.
We ensure your business is set up with MTD-compliant software, making it easy to submit returns and track your financial records.
Our team provides full support for MTD for Corporation Tax, ensuring you meet all digital filing requirements.
How We Optimise Your Corporation Tax Strategy
At Griffith Accountants Ltd, we take a proactive approach to tax planning, ensuring you stay compliant while optimising your tax position. Our services include:
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Ongoing Monitoring: We track your financials year-round, offering advice on how to minimise tax liabilities and maximise tax efficiency.
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Industry-Specific Solutions: Our in-depth understanding of different industries means we can provide bespoke tax strategies tailored to your business sector.
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Transparent Pricing: We offer competitive, clear pricing with no hidden fees, ensuring you understand the value we bring to your corporation tax strategy.
Why Choose Griffith Accountants for Your Corporation Tax Needs?
ICAEW-Accredited:
With a team of fully qualified experts, we deliver high-level tax advice and solutions tailored to your business needs.
Bespoke Solutions:
We focus on providing personalised service, ensuring every client receives tailored tax strategies designed to optimise their corporation tax position.
Comprehensive Support:
From filing your CT600 return to offering strategic tax advice throughout the year, we provide continuous support to help your business thrive financially.
Get in Touch Today
At Griffith Accountants Ltd, we make the complex world of corporation tax straightforward and manageable. Contact us today for a consultation and discover how our expert corporation tax services can help your business save money and grow.
020 457 957 95