Financial Statements and Corporation Tax
Keeping your business flying high with clear communication, timely information and pro-active advice.
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We pride ourselves on taking both responsibility and action along with attention to detail and excellent communication. If you'd like to understand more about how we can make a difference to your business, get in touch
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FAQs about Financial Statements and Corporation Tax
We provide comprehensive financial and tax services including preparation of statutory accounts, income tax, capital gains tax, inheritance tax, VAT, corporate tax and compliance, and handling HMRC corporation tax enquiries. We are adept at managing the increasing complexity of annual tax returns due to constant changes in the UK tax system and more onerous reporting requirements.
UK GAAP (Generally Accepted Accounting Practice) is the body of regulation establishing how company accounts must be prepared in the United Kingdom.
Our team of experts provides tax advice designed to meet clients’ commercial objectives while considering all relevant taxes. We assist with tax investigations for personal tax, corporation tax, and PAYE investigations. Furthermore, our customer-led service ensures a focus on your needs and a proactive approach to tax planning.
We offer assistance with R&D tax credits, which are designed to support companies that work on innovative projects in science and technology.
We can help businesses take advantage of tax breaks such as the Enterprise Investment Scheme and business premises renovation allowance, both of which are designed to support business growth.
There are complex rules around the need for an audit. We will help you figure out if and when you need one, and will help you choose an auditor when you do.
We work with subsidiaries of overseas companies, helping with various financial needs. Our team haas extensive experience helping international companies get started in the UK, guiding them smoothly through the financial and legislative hurdles associated with expansion into the UK.
Corporation Tax is a tax imposed on the net income or profit of a corporation. In the UK, all limited companies are required to pay Corporation Tax on their profits, as are foreign companies with a UK branch or office. It’s important for businesses to accurately calculate and promptly pay their Corporation Tax to avoid penalties from HMRC.
In the UK, companies are required to calculate their own Corporation Tax and report it to HMRC. This is typically done through a Company Tax Return, which must be filed online. The return should include the company’s Self-Assessment and supporting documentation.
There are various legitimate ways to reduce a Corporation Tax bill. These can include claiming allowable expenses, utilizing capital allowances, claiming reliefs such as Research and Development (R&D) relief, making charitable donations, and making use of tax breaks designed to support business growth. It’s recommended to consult with a tax professional to understand the best strategies for your specific circumstances.
R&D tax credits can provide a significant financial benefit for businesses engaged in qualifying innovative activities. These could include creating new products, processes or services, or making appreciable improvements to existing ones. By claiming R&D tax credits, businesses can reduce their tax bill or even claim payable cash credits as a proportion of their R&D expenditure, thereby supporting further innovation and growth.
We manage Financial Statements and Corporation Tax for:
Entertainment, Film and TV
We work with talented people and companies working in front of and behind the camera. Find out more about how we can support your career or company.
Technology & Software clients
Your world is fast-paced and agile and you need your accountant to be the same too. So whilst you focus on the tech, we keep track of the more mundane financial processes.
Creatives and creative businesses
Keeping track of all things financial for all kinds of creative businesses. We focus on the finance whilst you concentrate on retaining creative edge.
International Groups & Subsidiaries
When it’s time to expand into the UK you’ll want a knowledgeable, local team on the ground. We can help you get it right from the outset or get you out of a muddle anytime.
Financial Statements and Corporation Tax for businesses new to the UK
DO WE NEED THIS AND DO WE HAVE ANY COPY TO GO HERE? COULD COME LATER… When you hire your first employee in the UK it’s important that you get them paid promptly and correctly. We will get you registered as an employer and up and running to pay your first team member on time.
And what’s more, we will set up a process that suits you and will scale as your team grows. Our longest-standing client came to us when they hired UK employee number 1 and they now have more than 150 and head up the European operations for a successful listed group.
Financial Statements and Corporation Tax for start-ups and early stage
DO WE NEED THIS AND DO WE HAVE ANY COPY TO GO HERE? COULD COME LATER…We know it’s sometimes a while before a start-up business actually starts to pay wages, but there are things to consider even when there is just one founder/director (you) so it’s important to start planning payroll earlier than you might think.
