Since the introduction of Corporation Tax Self Assessment (CTSA), companies need to fully understand the tax administration and payment obligations placed on them under this regime. We can advise on:
- Record keeping requirements,
- Calculation of the corporation tax liability,
- All relevant claims and deductions,
- Minimising the overall liability,
- Completion of company tax return (form CT600) and, where relevant, supplementary returns,
- Electronic submission to HMRC of the iXBRL compliant form CT600 (and associated accounts and computation),
- Corporation tax payment deadlines,
- Form CT600 submission deadlines,
- CTSA full and aspect tax enquiry parameters,
- The interest and penalty system.
Agreeing your corporation tax liability with HMRC is principally achieved by completing a company tax return. Clients who are fearful that this calculation may be investigated by HMRC may wish to consider taking out our fee tax investigation insurance.
Understanding this complicated tax system and paying the correct (minimum) amount of tax, at the correct time, ‘returned’ through the correct mechanism, is what most clients seek. Speak to our tax technicians and put your mind at ease. We will also seek to identify means to reduce your corporation tax liability.