Corporate Taxation

You may be trading as a sole trader or partnership, but have you considered forming a limited company? This type of entity will not suit all traders, so talk to us to see if it can be of advantage to your business. If you form a limited company then corporation tax will apply to the profits. The tax is calculated at the end of every financial accounting period and must be paid to the Inland Revenue within 9 months and one day of your financial year end, which is an added cash flow advantage.

The tax rate is normally lower than if you are a sole trader or partnership. Putting your business into a limited company structure can also protect your personal assets.

We will prepare your corporation tax return (which will be filed electronically via a self assessment form) and advise you of the liability and due date of payment in good time, allowing you to plan in advance for the liability. This form must be submitted within 12 months of your financial year end to avoid a penalty.