Two people going over financial figures at a desk

Every limited company that makes a profit pays Corporation Tax on it. The rules on rates, reliefs and allowances are detailed, and getting them wrong means either overpaying or risking an HMRC challenge. We calculate your company's tax correctly, claim what it is due and keep it on the right side of every deadline.

How is Corporation Tax worked out?

Corporation Tax is charged on a company's taxable profits, which include trading profits, investment income and chargeable gains. The rate depends on how much profit you make:

  • The small profits rate is 19%, which applies where profits are £50,000 or less.
  • The main rate is 25%, which applies where profits are above £250,000.
  • Between those limits, marginal relief tapers the rate, giving an effective rate of around 26.5% on the profits that fall in the band.

These thresholds are also affected by the number of associated companies and by the length of your accounting period. Rates and limits can change from one tax year to the next, so we always calculate to the figures for your specific period and confirm them against GOV.UK.

Marginal relief in plain terms: profits between £50,000 and £250,000 are effectively taxed at about 26.5%, higher than either headline rate, which is what makes timing and planning around that band worthwhile.

What our service covers

Tax computation

Your taxable profit worked out correctly, with every adjustment made.

CT600 filing

The company tax return prepared and filed with HMRC in the required format.

Reliefs and allowances

Capital allowances, R&D and other reliefs identified and claimed.

Deadline management

Your payment and filing dates tracked, so nothing slips.

Loss planning

Trading losses used efficiently, carried back or forward as appropriate.

HMRC enquiries

We deal with HMRC on your behalf if questions arise.

Reliefs worth claiming

The difference between a well-prepared return and a rushed one often comes down to reliefs. Depending on what your company does and buys, those can include capital allowances on equipment and qualifying assets, research and development relief for innovation, and the efficient use of trading losses. We look for every relief the company is entitled to, rather than simply reporting the headline profit.

Key Corporation Tax deadlines

Corporation Tax has an unusual quirk: the tax is due before the return. For a company that is not classed as large, the main dates are:

  • 9 months and 1 day after your period end, The Corporation Tax payment is due.
  • 12 months after your period end, The CT600 company tax return must be filed.
  • Throughout the period, Keeping your records in order, so the figures are reliable when the time comes.

How we manage your Corporation Tax

1

Build the computation

We prepare the tax computation from your accounts, making every necessary adjustment and claiming reliefs.

2

File and advise on payment

We file the CT600 and tell you exactly what to pay and by when.

3

Plan for next year

We flag opportunities such as the timing of purchases, the use of losses and your remuneration, to keep future bills efficient.

Corporation Tax for Newcastle companies

We act for companies of all sizes across Newcastle and the North East, from contractor companies to established trading businesses. Corporation Tax works best when it is considered alongside your company accounts and your own position as a director, so we usually look at the two together, with tax planning tying it into the bigger picture.