Corporate tAx Services
Helping Businesses Stay Tax Compliant
CORPORATE TAX SERVICES
With expertise in tax planning, compliance, and advisory, CBM Accounting offers specialised Corporate Tax Services in the UK to help clients navigate the intricacies of each jurisdiction seamlessly, optimising their financial positions. Our team also assists with Corporate Tax Registration in the UK, ensuring businesses meet all legal requirements while minimising risks.
Our seasoned Tax Advisors in the UK provide tailored solutions that address the unique needs of each client. We stay up to date with the latest tax laws and regulations to ensure full compliance and maximise financial benefits. CBM Accounting’s comprehensive approach combines strategic planning and proactive advice, enabling clients to achieve their long-term financial goals efficiently and effectively.
Corporate tax Threshold:
19% tax rate: Applies to taxable income up to GBP 50,000.
25% tax rate: Applies to taxable income exceeding GBP 50,000.
It’s important to note that a separate, different tax rate applies to large multinational enterprises that fall under the scope of Pillar Two of the OECD’s Base Erosion and Profit Shifting (BEPS) framework.
25% tax rate: Applies to taxable income exceeding GBP 50,000.
It’s important to note that a separate, different tax rate applies to large multinational enterprises that fall under the scope of Pillar Two of the OECD’s Base Erosion and Profit Shifting (BEPS) framework.
Corporate Tax Expert Services by CBM Accounting
The Corporate Tax in the UK has brought about a need for specialised services. Our team at CBM Accounting is dedicated to providing comprehensive support in navigating this new landscape. Below are descriptions of our key services, each crafted to be equal in length for a balanced and professional presentation.
Corporate Tax registration
- Assessing your business for registration.
- Handling all document preparation and submission.
- Securing your Unique Tax Reference Number on time.
Corporate tax return filing
- Preparing and filing your annual return accurately.
- Ensuring all financial calculations and adjustments are correct.
- Submitting the return well before the deadline.
Corporate tax advisory & planning
- Conducting a thorough impact assessment on your business model.
- Developing strategic plans to minimise tax liabilities legally.
- Helping you understand and implement the new CT regulations.
Compliance & risk management
- Performing tax health checks to identify potential risks.
- Offering ongoing support to ensure continuous compliance.
- Providing guidance on best practices for record-keeping and HMRC inquiries.
Tax Group Formation
- Evaluating if your corporate group can benefit from consolidation.
- Guiding you through the eligibility conditions and application process.
- Simplifying compliance by allowing a single tax return.
Transfer Pricing
- Advising on compliance with transfer pricing rules.
- Preparing all required transfer pricing documentation.
- Ensuring related-party transactions meet the arm's length principle.
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Loss Relief Provisions
Carry Forward Losses:
- Carry forward losses allow UK companies to use trading losses against future taxable profits.
- Helps reduce future Corporation Tax liabilities and improve tax efficiency.
- Businesses with profits below £1 million can usually offset losses against 100% of taxable profits.
- Unused trading losses can generally be carried forward indefinitely.
Carry Back Losses:
- Carry back losses allow UK companies to set trading losses against profits from earlier accounting periods.
- Losses can be carried back up to the previous 12 months (subject to HMRC rules and exceptions).
- The relief is applied against the most recent profits first.
- Carry back relief helps businesses recover tax quickly and ease financial pressure.
Staying Compliant in the UK
Who Needs to File a Corporate Tax Return?
The obligation to file a corporate tax return applies to a wide range of entities and individuals.
All Juridical Persons
This includes companies and other legal entities incorporated in the UK.
Natural Persons
Individuals who conduct a business or business activity in the UK under a commercial license.
Non-Resident Persons
Foreign entities having a "Permanent Establishment" in the UK or that earn UK-sourced income.
Failing to register, file, or pay on time can lead to significant penalties.
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