Every limited company in the UK is required to calculate and report on their profits before filing a Corporation Tax return – whether they make a profit or not. It’s a legal obligation… it’s also one of the last things a business owner wants to deal with.
Often complex and time-consuming, it can prove an unwelcome distraction from the day to day operation of your business, taking you away from where your time is most profitably spent. To make matters worse, it also requires a certain level of expertise in other areas – such as the keeping of up-to-date books.
How much Corporation Tax you have to pay depends upon the amount of profit your business has generated with the rate currently sitting at 19%, falling to 17% by 2020. A daunting prospect for many small business owners.
Why choose Phil Owen & Co.?
Thankfully, our specialist tax consultants are on hand to advise on the best opportunities to reduce your Corporation Tax liability, also ensuring that your business is correctly registered with HMRC and completing your Corporation Tax Return on your behalf. As a result, you can rest safe in the knowledge that you won’t be met with any penalties or interest on late or inaccurate returns.
Aside from keeping you in HMRC’s good books, by completing and submitting your Corporation Tax return and its associated documents, we’ll also help generate information that can be used for analysis and planning throughout other areas of your business, such as tax planning or the seeking of investment capital.
An ICAEW Chartered practice supporting businesses throughout Liverpool, Wirral and the North West, we offer free consultations to anyone interested in our services. Simply get in touch today and we’ll arrange a meeting, either at your own office or our Liverpool HQ.