Business Tax, Corporation Tax Return, or company tax return CT600 for HMRC
Corporation Tax Return, It is also known as CT in short. We can save you a lot of time, worries, and money by handling your corporation tax for your company. We will do all the necessary computations, complete your CT return, and advise on how you can minimize your CT liability.
We can act as your agent, dealing directly with HMRC on your behalf.
We will assure you that your business tax matters are dealt with competently and in a timely manner so that you do not incur any unnecessary late-filling CT penalties and comply with proper legislation.
Few common CT-related Q&As
When is CT due?
CT is due after the company's year-end, it is not the same as the usual fiscal year-end or normal SA returns deadline, usually 12 months after your company's year-end.
When do I have to pay for CT?
CT is usually payable 9 months and one day after the end of the accounting period, please note CT filing dead is 12 months after year-end but payment if any should reach HMRC early.
Is CT payable by me or my company?
CT is a tax on company profit and is payable by a company not you personally, though you are the owner of your company legally you and your company are two different legal entities.
What is the rate of CT?
CT rates can vary from fiscal year to another, please click here to get the latest Corporation tax rates.
Can I prepare and submit CT through my book-keeping software?
Most online accounting software can provide you with a rough estimate of CT liability BUT that should not be taken as a set-in-stone mark, there are a lot of complex matters involved in CT computation. At present bookkeeping, online accounting software does not provide the option to prepare the final CT return and file to HMRC. We use special software to produce iXBRL format for CT and statutory accounts to prepare and file with HMRC.
Do I have to pay tax on dividends after paying CT?
Dividends are payable from reserves leftover after CT by the company, there can be the further personal tax liability on dividends, it depends on how much other income one has and the latest dividends thresholds.