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UK Tax Specialists

UK Tax Specialists – What Is Corporation Tax?

UK tax specialists can assist with all questions when establishing a company in the UK, including UK corporation taxes. When setting up a subsidiary in the United Kingdom, the company’s yearly profits are likely to be subject to corporation tax. Accountants UK based can help to ensure tax registrations are made correctly and that they maximise tax efficiency by advising on the best suited structure for the operation.  Usually, all UK limited companies are liable to pay corporation tax in the UK, but if their activities are limited they may not create a taxable permanent establishment in the UK and they may therefore not be liable to pay UK corporation tax. However, even if a business is not incorporated, it may also be subject to UK tax, for example, if the business is a sole trader or a partnership.

Register A Company UK And Pay Corporation Tax

Once a company is incorporated at Companies House, it needs to register for corporation tax within three months of starting to trade. This is where the advice of the best UK tax specialists can assist, ensuring that the company registers correctly for all taxes with HMRC. The size of the business determines how frequently tax payments are made to HMRC, and every year the accountant submits the corporation tax return via the online portal. This is known as the CT600, and the accountant will need to fill in the relevant forms and provide the supporting documents to the UK tax authority. The CT600 return requires details such as turnover and expenses, taxable profit, any capital allowances claimed and it will include the tax calculation. If you work with a tax advisor United Kingdom based, they are able to ensure this is completed correctly and submitted on time.

Maximising Tax Efficiency With A Tax Agent UK Based

The benefits of using a tax agent UK based, extend much further than ensuring the corporation tax return is filed correctly. They will also be able to assist with other taxes for which the business is liable. In the UK, the main business taxes are as follows: environmental taxes, payroll taxes, value added tax (VAT), stamp duties, and capital gains tax. The UK tax specialist  will be able to ensure the business is running as tax efficiently as possible. After all, there are a number of attractive tax incentive schemes available in the UK and there are ethical ways of reducing the amount of tax a company pays which are in keeping with the law. This includes tax incentives when developing intellectual property (IP) and further incentives for creative industries. Working with an experienced tax advisor in the United Kingdom ensures you minimise tax risks and identify the best opportunities to reduce your tax commitments.

Contact UK Tax Specialists, Axada International Tax Advisers, Today

Hopefully, this short explanation has led to a better understanding regarding UK corporation tax and the compliance obligations that exist when establishing a business in the UK. Nevertheless, if you have any further questions, please do not hesitate to get in touch with our team of UK tax specialists at Axada International Tax Advisers. We have years of experience in helping international businesses set up and operate in the United Kingdom and we can help to maximise tax efficiency when entering the UK market for the first time. For more information on the services we provide, go to our website at: https://axada.co.uk/services. You can also reach us directly on +44 (0) 20 3000 6776 or send an email to info@axada.co.uk.

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