NBAS Chartered Accountants Belfast |Northern Ireland

Corporation Tax Management

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What is a corporate tax return?

Corporation tax is relevant to every limited company that is based in the UK. Limited companies that are non-UK-based can also still be expected to pay corporation tax. It's crucial to utilise all the exemptions, allowances, and deductions available for tax return calculations because corporation tax reliefs and rates change on an annual basis.

A corporation tax return is used to compute your corporation tax liability based on your profit as well as any costs or allowances claimed. HMRC must be given the return and payment.

To determine how much corporation tax you owe HMRC, your corporation tax return uses the profit or loss you've recorded in your accounts.

Here at NBAS we are on hand to offer Corporation Tax guidance to businesses in Northern Ireland and the UK.

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Corporation Tax Northern Ireland
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Where do I start?

The first thing you must do is register your company with HMRC so that they know are liable for corporation tax.

If your company is liable for corporation tax, you must calculate how much profit your company makes for each accounting period first, from this you must calculate how much corporation tax is payable on those profits.

This information must be reported to HMRC on a corporation tax return form.

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Our team will work with you to:

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Utilise all applicable deductions and tax breaks.
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Make sure you pay Corporation Tax at the correct rate.
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Utilise the guidelines to identify strategies that could reduce your tax band.
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Make sure to submit your Corporation Tax returns on time and with full accuracy.
NBAS Chartered Accountants Belfast |Northern Ireland
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