Corporation Tax

corporation tax accounting services
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    Archimedia Accounts is a specialist in Corporation Tax Returns for limited companies.

    Welcome to Archimedia Accounts, Corporation Tax services

    As your Corporate Tax advisor, Archimedia Accounts will ensure you comply with the law, and help you to save as much tax as possible. However, Corporate Tax services cannot be done in isolation. We will undertake a thorough review of your individual circumstances, business operations and investments to help you save tax now, and in the future.

    What does a Corporation Tax accountant do?

    Corporation Tax accountants ensure limited companies are compliant with Corporation Tax law and ensure you do not pay too much, or too little. As well as helping you to plan for your Corporate Tax liabilities, Archimedia Accounts will take care of all of the admin and liaise with HMRC on your behalf.

    In addition, we will make a thorough assessment of your company’s activities to help you save on your tax bill and retain as much of your company profit as possible. This could be through helping to identify business expenses or tax reliefs that your company may be eligible for.

    Our Corporation Tax return process

    • Your limited company’s bookkeeping is done throughout the year and this is checked by a senior accountant regularly to ensure your figures are robust.
    • Throughout the year, you will have review meetings with our Head of Tax to assess your investments and your business operations, so we can find ways in which to save tax.
    • At your limited company’s year-end (your accounting period), we will be in an excellent position to complete your company tax returns. We’ll put the limited company accounts and Corporation Tax return together to review with you, then once signed we submit these to HMRC and Companies House.
    • We aim to have your accounts and company tax return submitted no longer than 3 months after your year-end.

    Pay Corporation Tax on time with Archimedia Accounts

    Your Corporate Tax is due to HMRC 9 months after the year-end (the end of your accounting period), but we want you to know this figure well before then so you know exactly how much Corporation Tax you owe and how much profit your company will retain.

    We aim to finish your tax return 3 months after your year-end. We then give you all the information you need to pay your Corporation Tax liability to HMRC.

    What is the difference between CT600 and CT603?

    A CT600 is the company tax return itself and a CT603 is a notice to deliver a company tax return.

    Does a company tax return include Corporation Tax?

    Yes. Essentially the company tax return is a form that informs HMRC of all the Corporation Tax that is owed by (or to) the company and why.

    Is there a penalty for late Corporation Tax returns?

    Yes, there are penalties for not filing at all, late filing, and inaccurate filing of Corporation Tax.

    For a late filing you can expect to pay £100 for the first day, £100 after 3 months, 10% of your estimated Corporation Tax bill after 6 months, and then another 10% after 12 months.

    Companies House also issues fines for late filing (£150 immediately, £375 after 1 month, £750 after 3 months, and £1,500 after 6 months).

    There are also various penalties for errors on your tax return. These penalties vary depending on how quickly you inform HMRC of the mistake, how deliberate it was, and how concealed the error was.

    The penalties may be different for different years, here is HMRC’s page on Corporation Tax penalties: https://www.gov.uk/guidance/corporation-tax-penalties

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