Company Tax

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What is a Corporation Tax Returns?

A Corporation Tax Return is a return filed by Companies or associations to declare their profits, spendings and company tax figures to HMRC, usually once a year. It is essential for all active UK companies to file their Corporation Tax Return before the deadline to meet their legal obligations and avoid late penalties. Company tax reliefs and rates are changed several times on an annual basis, therefore you need to make the most of the allowances, exemptions, and deductions to reduce your Corporation tax liability.

Corporation tax accounting experts at dns accountants specialise in filing Corporation Tax Returns and helping small businesses in reducing their company tax liability. Our experts are specialised in handling all aspects of technical tax and can guide you on the same by making use of allowances, exemptions and deductions you may not even know about. dns accountants corporation tax experts spend time with you, take adequate steps to reduce your tax liability, and pave the way for business growth and development.

How to file a Company Tax Return?

A Company should never pay their corporation tax after the deadline and give an invitation to the penalties imposed by HMRC. It can only be possible if a company can know about every deadline concerning Corporation Tax Return. A Company usually needs to file a Corporation Tax Return 12 months after the completion of the accounting period. If your Company makes a loss or has no corporation tax to pay, still you need to file Company tax return to HMRC. The deadline for paying Corporation tax is usually 9 months and one day after the completion of the accounting period.

There is no bill provided by HMRC for corporation tax, and you need to work out, pay and report your tax to HMRC on your own. Our corporation tax experts at dns accountants not only calculate your corporation tax but also pay and report the same to HMRC much before the Corporation Tax Return deadline to ensure that there will be no penalties and you remain compliant by fulfilling all your legal obligations.

dns accountants follow every deadline specified by HMRC to submit Corporation Tax Return starting from your corporation tax registration, working out your taxes to paying and reporting the same to HMRC at the end.

What is the notice to deliver a Company Tax Return?

In case your accounts cover a period of fewer than 12 months, still it matches the corporation tax period, but if your accounts cover a period of more than 12 months, then there will be two corporation tax accounting periods, and you have to file two company tax returns to HMRC –

  1. First company tax return for 12 months
  2. Second company tax return for the remaining period.

It may happen with many of the small businesses that they get confused while submitting Corporation Tax Return when it is for a shorter period or a longer one but no need to worry as our expert tax accountants have specialisation in handling such cases and will calculate your corporation tax and file your return accurately and without any hassle.

Company Profits and Adjustments

In the case of Corporation Tax Return, you need to file tax on the profits you earned from doing business, investments and capital gains. Companies that are based in the UK need to pay Corporation Tax on all its profits they earned from the UK and abroad. In contrast, Companies whose offices are not based in the UK and have a branch here, only need to pay corporation tax on profits from their UK activities.

Company tax return depends entirely on the profits and losses made by the Company. Still, these need to be adjusted before the tax filing deadline so that you don’t have to face any penalties going forward and everything will get sorted in good time. The Company tax return must include a calculation of tax disclosing the adjustment of profits in your financial accounts to work out the taxable profits.

Some businesses try to save their money on professional fees and ignore the assurance, skills and experience of an accountant but sometimes it may lead them into a big problem. You must contact a corporation tax expert to get things done most efficiently. Our experts at dns accountants check your Corporation Tax filings with the help of efficient internal systems and HMRC Compliant software “Nomisma”. dns accountants remain up to date with all the latest rules and regulations and never miss any HMRC Corporation Tax return deadline. You will get every update concerning Corporation tax well in advance from us, which helps in reducing your stress level, and you can easily focus on other important business aspects.

What are Corporation Tax Late Filing Penalties?

If you do not file your company tax return before the deadline, you will have to pay penalties to HMRC –

  1. If you’re 1 day late - Penalty of £100 will be levied
  2. If you’re 3 months late - Penalty of another £100 will be levied
  3. If you’re 6 months late - Penalty of 10% on the unpaid tax after the estimation of Corporation tax bill by HMRC.
  4. If you’re 12 months late - Penalty of 10% of any unpaid tax.

Other than delay in filing Corporation Tax Return, there are certainly more things which you need to take care of while filing your Corporation Tax Return to avoid penalties. Any wrong information on Company tax return may put you in a big problem which could lead to even high penalties. Our expert tax accountants can also help you in amending the Corporation Tax Return if you have already missed the deadline. dns accountants assure that your Corporation Tax Return will be submitted to HMRC on time and much before the deadline. You don’t have to care about the penalties as you will not face it till the time you are associated with us.


Our Services

Corporate tax
Preparation of Corporation tax return
Calculation of Corporation tax liability
Submission of Corporation tax return
Making the most of tax allowances and reliefs
Reviewing of Company taxation affairs & position
Tax Compliance and
Correspondence with HMRC

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