Total Books, Corporation Tax accountants
Every business needs to meet its Corporation Tax obligations, but keeping up with the changing tax laws and filing tax returns can feel like a full-time job. We’re here to ease the pressure and make running your business enjoyable again.
At Total Books, we help small businesses and growing limited companies manage their Corporation Tax liabilities. We combine our personal approach with the latest award-winning accounting software, TaxCalc, to give you real-time insights into your taxes and ensure tax compliance at every stage of our service.
You can focus on growing your business while our team takes care of the finer details, from calculating your Corporation Tax bill to filing returns. Contact Total Books today to speak to a corporate tax accountant.
What is Corporation Tax?
Corporation Tax (also referred to as corporate tax or company tax) is a specific type of tax that companies have to pay on their profits. You must register for Corporation Tax as soon as you incorporate your company. The Corporation’s Tax return form that needs to be filed yearly with HMRC is known as a CT600. Further, HMRC guidance can be found here.
Who has to pay Corporation Tax?
The tax system can be confusing at the best of times.
Check if you have to pay Corporation Tax on your business profits by seeing if you fit into one of the following business categories:
- Limited companies registered at Companies House
- Foreign companies with a UK branch
- Co-operatives and clubs
- Community interest companies (CIC)
How to pay Corporation Tax
Paying Corporation Tax is usually straightforward and can be made even easier by working with an experienced Corporation Tax accountant like Total Books.
We’ll make sure you’re registered long before your bill is due and help you keep track of records with speedy and reliable software. From there, Total Books will prepare your Company Tax return to work out how much tax is due and advise you on how to pay the Corporation Tax before the deadline hits. Total Books also has regular client reminders via text, email and WhatsApp to ensure you never miss a deadline.
When is Corporation Tax due?
Corporation Tax is typically due 12 months after the end of your financial accounting period. You must meet this deadline to avoid costly penalties that can quickly rack up.
| 1 day late | £100 penalty |
| 3 months late | Another £100 penalty |
| 6 months late | 10% of your estimate Corporation Tax bill |
| 12 months late | Another 10% of your unpaid bill |
Struggling to pay your Corporation Tax bill on time? At Total Books, we will work with you to set up a payment plan with HMRC that you feel comfortable with. We’ll help you get on top of your taxes before the problem gets out of hand.
Our Corporation Tax services
At Total Books, we provide small businesses and growing companies with efficient, accurate business tax management. With our support, you can focus on your business and forget about the financial challenges.
Take a look at what our corporate tax services can do for your business.
Company tax return (CT600)
We understand it isn’t easy to keep up with financial deadlines when you have a business to run. We help you keep things easy with timely, error-free Corporation Tax returns. Our team will assist you by preparing and filing your returns, providing whatever level of support you require.
Steps in preparing your tax documents:
- We’ll calculate your overall tax liability and prepare the CT600 tax return using your paper records, cloud bookkeeping entries, balance sheets, and profits and loss statements.
- Next, we’ll send you a detailed explainer video, email a report, and hold meetings to ensure you fully understand your CT600 return and tax liabilities.
- We’ll then send you confirmations of the amount due, deadlines, and HMRC payment links so you can meet your tax deadline on time every year!
Our focus is on making sure you feel at ease. We’re the experts, and we’re always up-to-date on UK tax laws and compliance. We go that little bit further for your peace of mind by embracing modern accounting software to help you get faster results with fewer errors.
Company tax planning
Could you benefit from a lower tax bill? We’re here to make sure you not only meet your deadlines but also make the most of the tax reliefs available.
Our company tax planning services start with a deep dive into your corporate taxes, analysing your financial records and operations to identify areas that need support. We’ll help you claim all allowable expenses and deductions and find tax savings so your profits take less of a hit. This includes incentives like research and development (R&D) for tech companies and innovative businesses, capital allowances for purchasing equipment, and group tax relief between related companies.
Beyond essential tax planning, we also offer professional corporate tax advice that breaks down complex ideas to leave you with a well-thought-out strategy. If we feel that your company could benefit from restructuring to maximise other tax benefits, we’ll help you do just that, making sure you understand every possible outcome.
Why choose Total Books as your Corporation Tax accountant?
Corporation Tax is full of rules, regulations and deadlines. But when you choose Total Books for your Corporation Tax services, the burden is no longer yours to bear. You’re getting an accountant who cares about more than just compliance and tax savings. We’ll also save you time and stress. Leaving you with total peace of mind.
Buhir and his team have been absolutely incredible. My tax situation was quite complex, but they took their time and were extremely thorough, checking in with me each step of the way. In the end, they saved me loads of time, money, and headache. I couldn’t be more grateful and wholeheartedly recommend their services.
– Amber P.
If you’re looking for clear guidance and effective tax management for your company, contact Total Books today!
