Corporation Tax

All small UK trading companies are required to pay Corporation Tax by nine months after the end of their accounting year and to submit their accounts and computations together with a Self Assessment Tax Return (CT600) to HMRC within twelve months after their accounting year end.

We will prepare your Corporation Tax computations and the Return as part of our work in preparing your annual accounts and submit them online to HMRC on your behalf within a week of you signing off the accounts.

HMRC will then issue you with a payment slip, based on the amount of tax we have calculated, which you should use to pay your tax within the nine months.

HMRC then have 12 months from the date of submission of your return (the 'Enquiry Window') in which to decide if they wish to look more closely at it.

You will also have to pay 25% of any director's loan which is outstanding as at the end of  your accounting date (s419 assessment) and which has not been re-paid to the company when you have to pay your tax.

                          Corporation Tax Rates

1 April 2008 - 31 March 2009

Profits up to 300k   -   21.00%

Profits over  300k   -   29.75%

Profits over 1,500k -   28.00%


1 April 2009 - 31 March 2010

Profits up to 300k   -   21.00%

Profits over  300k   -   29.75%

Profits over 1,500k -   28.00%