Business Tax for Companies

Every Business needs to calculate its annual charge to tax.

We do this on your behalf and advise you of the amounts to pay and the due dates.

Business tax can be split into two distinct areas, those of compliance and planning. This page deals with the compliance parts of the work.

In an age where governments of every hue shy away from announcing anything that remotely sounds as if it is designed to produce a greater tax take, a tool that is increasingly used to generate additional funds is that of penalties. For that reason, it is essential that a company keeps its affairs up to date and tax paid on time.

As an example, if you happen to operate in the Construction Industry, it is vital that this occurs as failure to do so may jeopardise your ability to be paid gross by your customers. As a leading firm of Chartered Accountants in Essex we aim to assist you in this task thereby allowing you to concentrate your time and efforts on your trading activities.

We monitor deadlines and advise you of what you should be doing and when. Compliance services offered to our corporate clients include:

• Completion of CT41G form to advise HMRC of trading commencement (fine £300 if late)
• Preparation of CT600 Returns (fines start at £100 rising to £1,000 and potentially 20% of unpaid tax)
• Preparation of Form 42 in respect of employee share transactions (fines £300 per reportable event)
• Checking tax statements and advising of payment dates/ amounts (interest chargeable at 7.5%)

Our terms of business relating to business tax are Corporation Tax – updated Feb 2010.

We also file the annual forms with HM Revenue & Customs on your behalf.