Could our Corporation Tax services lower your bills?
Corporation Tax can be complicated. But don’t worry, we can help!
The Corporation Tax rate you will pay will depend on your company’s trading profits. If you make a profit of more than £250,000, you have to pay the full rate of 25%. If you make less than £50,000, you pay the ‘small profits rate’ of 19%.
If your profits are between these figures, that’s when things get complicated. You need to claim marginal relief and, depending on your profits, could pay anything between 20% and 24%.
If your company’s profits are below £250,000, miscalculating them even slightly could push you into a higher tax band. If they’re over £250,000, you need help to mitigate the hit that a 25% tax rate will have on your business.
In both situations, THP’s Corporation Tax services are here for you. Our expert accountants can work with you to:
- Make full use of relevant allowances and tax breaks
- Ensure that you pay the correct rate of Corporation Tax
- Use the rules to find strategies that could lower your tax band
- Make sure your Corporation Tax returns are submitted accurately and on time.
THP works with limited companies of all sizes to manage their Corporation Tax affairs. So whether your trading profits are modest or run to tens of millions of pounds, we can help make sure you don’t pay more Corporation Tax than you should. Contact us today to find out more.
Meet the THP Corporation Tax Services team!
Hello. My name’s Mark Ingle. I’m a Client Director based at our Chelmsford Office. Like all members of our THP Corporation Tax Services team, I can help you find ways of keeping your Corporation Tax charge low, make sure you pay at the correct rate and ensure your returns are submitted accurately and on time. Get in touch with myself or any of the team at our Wanstead, Chelmsford, Sutton or Saffron Walden branches.
Mark Ingle
"There's something really satisfying about helping a client go beyond just an annual tax return.”
Lee Daley
"When clients call you by your nickname, you know you’re providing a personal approach”
Andy Green
"We are honest, telling clients what they need to hear, being creative & innovative, we challenge our clients"
Debbie West
"Whether I'm working on tax, accounts or payroll it's good to be helping people.”
Kirsty Demeza
"I believe in our service, and I know clients feel strongly that we’re worth it"
Corporation Tax FAQs
If you have a limited company registered in the UK, or your overseas company makes profits from a UK branch or office then your business should be registered with HMRC. Other organisations liable for Corporation Tax include clubs, co-operatives and unincorporated associations such as community or sports groups that make profits from doing business. We can advise you whether your organisation needs to pay Corporation Tax.
In a nutshell, businesses with profits under £50,000 pay 19%. Those with profits over £250,000 pay 25% . Businesses with profits between the two figures pay a tapered amount. We will ensure you pay the correct rate for the trading profits you make.
In many cases, yes, we may be able to help you reduce your Corporation Tax bill. How we do this will depend on your business, the way it operates and the profits it makes. We can help you identify opportunities and allowances that could help reduce your Corporation Tax charge. It’s also possible for us to use current rules to find strategies that will help some corporate clients move to a lower Corporation Tax band.
If you are not currently a THP client, we can offer you an initial consultation to determine how we could help you. For example, many limited companies use our longer-term tax planning services to plan ahead.
