Corporation Tax

Professional Services

K.A.Farr & Co Are Experts In Submitting Tax Returns.

Corporation Tax

Corporation Tax calculations are an important part of your company’s tax return, as they adjust the profit shown in your accounts to arrive at the correct figure for taxable profit.

Profits include all sources of income and also Capital Gains but exclude dividends from UK companies.

Some expenses, such as business entertainment, depreciation on assets, and some legal costs for capital expenditure, are not allowed for tax purposes.

They must be added back to the profit in the Corporation Tax computation.

Equally, there are also some capital tax allowances and reliefs which do not feature in a company’s accounts and which are deducted from the profit prior to tax being charged.

Self Assessment

Under the ‘Self Assessment’ system, you will need to estimate and pay your Corporation Tax within 9 months of the end of your accounting period. This is before filing a statutory return with supporting accounts and computations within 12 months of that same date.

We can help you get all of this right first time, on time so that you do not incur any interest, penalties on unpaid tax or charges for submitting returns too late.

This is precisely why we plan ahead and work with our clients to complete accounts well in advance.

Corporation tax is also charged on the profits of unincorporated bodies such as clubs.

Our services

We offer preparation of accounts, personal and company tax and business planning.

Our services also include secretarial support, payroll/CIS services, bookkeeping, VAT and company auditing.