The first thing you must do is register your company with HM Revenue & Customs (Her Majesty's Revenue and Customs), using their official forms, letting them know that you are liable for corporation tax.
If your company is liable for corporation tax, you must calculate how
much profit your company makes for each accounting period and how
much corporation tax is payable on those profits . This information
must be reported to HM Revenue & Customs on a corporation tax
return form and accounts and tax computations must be submitted
to HM Revenue & Customs in support of the return. There are strict
penalties for filing late returns and interest is charged on tax paid late,
so it is important that the deadlines, which are determined by your
company's annual accounting date, are adhered to.
At South West Accountancy we can help you with the preparation of company accounts, company corporation tax returns and tax computations and will also be able to provide advice on any tax planning areas that may benefit you and your company.
We offer a range of services to help you minimise your corporate tax exposure and relieve you of the administrative burden of complying with tax legislation. These include:
Efficient corporate tax planning can result in potentially significant improvements in your bottom line