Corporate tax planning

Tax planning is a year-round activity – and a very important part of your overall financial strategy. With good professional advice and judicious planning, you may be able to achieve considerable gains and savings with corporation tax.

However, your tax planning must fit in with, rather than dictate, your business, tax, and other financial objectives. In no way should you allow tax planning to veer too far off into fantasy and away from financial reality.

At CloudCo Chartered Management Accountants we are here to assist with all your corporate tax planning needs.

What is corporate tax planning?

You start your business with an aim to make profits. As you grow and learn more about the market opportunities, the aspirations for increasing the profit shares only grow more. This means that you require the best business structure in place.

A large part of your trading costs constitutes Corporate Taxes.

Who pays corporate taxes?

Corporation tax is a requirement for companies. When you register as a limited company, you as the company director are subject to PAYE income tax, National Insurance, and will also need to file a personal self-assessment return at the end of the year.

Your company is viewed separately for taxation purposes and is liable for corporation tax on any taxable profit gains or surpluses.

Terms like corporation tax may seem a bit daunting in light of all the other forms of taxation as well, but if you are not a sole trader, this type of taxation likely applies to your company.

At CloudCo we can help you understand your corporate tax requirements.

Why is corporate tax planning important?

Tax planning is indeed important for your business, but you might not want to end up investing a large chunk of your time into it and forget about your core business activities.

Your business is your first priority, its success and of course, its expansion too.

Filing the returns, calculating the taxation you might owe to the HMRC, looking to reduce your tax and gain tax relief, all of these can become tiresome and time-consuming on top of management duties.

Moreover, taxation legislation can be tricky and often undergo changes you might miss to notice.

These are just a few of the reasons why you should employ CloudCo Accountancy Group to help make and manage your company plans. After all, managing your corporation taxes correctly is crucial in ensuring your organisation has financial success.

What do our corporate tax planning services include?

For vital tasks like these, you can seek assistance from experts who can help you minimise your tax and maximise profits and income. Some of the services that CloudCo can offer are:

• Advice on the best tax-efficient business structure.
• Planning corporate tax in a tax-efficient way for businesses.
• Establishing payroll and benefits.
• Assisting in VAT planning.
• Make most of the tax-efficient saving opportunities and tax relief available.
• Optimise on capital or revenue tax.
• Capitalise on relief on acquisitions with capital allowances.
• Reduce tax liability on disposals.
• Assist with doing business overseas.
• Maximising business tax benefits pertaining to your industry.
• Helping your business comply with the tax return legislation including corporation tax self-assessment.
• Interact and act on tax discussions on behalf of you ( if required).

FAQs

What are the techniques of corporate tax planning?

Taxation planning should be carried out to mitigate the taxation payable and to ensure that all possible avenues are explored, which will include ensuring the payment date is delayed as long as possible.

Generally, taxation planning will encompass revenue taxes, corporation taxation, capital gain taxes, and inheritance taxation.

Corporate taxation plans can be carried out in relation to VAT, national insurance, and stamp duty however this is less common.

One technique of corporate taxation plans could be to increase the cash that the business has available that could then be used to invest in other areas of the business or simply to increase the working capital that the business has available.

What are the limitations of corporate tax planning?

Planning corporate tax comes with some limitations to be aware of, and it is not all related to tax reliefs since tax reliefs across each sector of your business, including shareholders, are also taxed.

The rules of taxation are widespread, even for investment plans, therefore, the limitations are that revenue will owe taxes before any planned out bonuses for taxation relief are received.

Why are corporate taxation plans important?

Its not just about receiving optimal tax returns, although attractive tax returns are certainly possible with corporate taxation plans. But the main importance of this service is to ensure that your business has adequate and innovative research and development oversight looking into ways to improve your organisations finances.

Also of crucial importance is the timing of expenditures. At year-end, thought should be given to bringing forward any proposed expenditures by the accounting firm in order to claim a deduction in the current taxation year as opposed to waiting until the following year.

Having one of our professional accounting team on hand to research, brainstorm, and implement strong and sound financial decisions with corporation oversight is very beneficial for any type of company.

Corporate Tax Planning Services for Business, Companies, and Individuals

When making plans for corporation taxes, youre always going to want to consider which tax credits are available to you.

Our team at CloudCo Accountancy Group specialises in corporate tax planning accounting reliefs and provides cost-efficient and solid business services for individual entrepreneurs and companys too. When you contact us, you will get assistance on all taxation aspects both at the UK and international levels.

We have been entrusted by varied clients for years in matters of taxation planning. We ensure to take into account the banking and finance aspects too while helping with taxation planning.

Businesses can reap the supreme benefits at different stages of business development with reliable tax planning reliefs from our experts.

One size does not fit all when it comes to corporation tax planning. To understand your options, you can contact us and seek one to one consultation on call 01908 041 755 or you can also request a consultation by writing to us at info@cloudcogroup.co.uk

Additionally, you can contact us by filling out this form.

About the author

Sumit Agarwal
Sumit Agarwal (ACMA ACA India), the Managing partner of dns accountants is a highly respected accountant with expertise in helping owner-managed businesses.