Alexander Ene has been providing Corporation Tax Services to Companies of different sizes and from different business sectors for many years. Our services in this area include (but not exclusively):
* Corporation Tax Computations.
* Completing and filing corporation tax return.
* Corporation tax planning
* Tax investigation and Inland Revenue enquiries.
* Director Tax Planning
* Employee benefits and P11D issues.
* VAT Matters
* Capital Gains Tax
* General compliance
At Alexander Ene we pride ourselves in providing an efficient and timely service. Our fees are equally competitive. We recognize that tax saving is an integral part of a business wealth maximisation strategy and devote time and effort into providing excellent corporate tax service for our clients.
Currently there are penalties for late filing and interest for late payments. In addition we believe that it is important for cash flow planning to be aware of tax liabilities and due dates as soon as possible. Our timely service ensures that tax returns are filed on time and that tax liabilities are known well before their due date.
How To Handle Corporation Tax Responsibility
Taxes are a part of business operation. It’s vital that you take the time to make certain you understand every tax liability for your company. Even in the event that you use accountancy services to take care of your financial situation, it is still your obligation in the final analysis to make sure that every tax burden is paid. One of these tax that you ought to be aware of is company tax, generally known as Corporation Tax.
The Fundamentals of Corporation Tax
This taxation is an obligation of Ltd companies and some organisations which are unincorporated bodies. The income that are taxable under this kind of taxation can include net profit from trading, income from investments and capital gains. It doesn’t matter where you sell your products and / or services, if you’re situated within the United Kingdom then you are accountable for tax.
Managing Corporation Tax
An accountant has to be able to handle the company taxation on your behalf. Your accounting service will notify HM Revenue & Customs of your firm’s obligation for the tax, ensure the correct sum of tax is paid on the right time frame and submit the corporation tax return and documents for this tax. The due dates for these activities will differ, but your accountants ought to know when all these deadlines are.
One item that is vital for you to note and follow up on with your accountants is the due dates for paying and filing. Typically you’ll file the return before you pay the tax. With corporation tax you make payment before you submit the return.
Utilizing And Appointing An Accountant
When you have your accountant to manage your corporation tax the accountant will end up as your agent and deal with HM Revenue & Customs on your behalf. This gives the accounting company the capability to correspond with HM Revenue & Customs and the job of dealing with all of your business tax matters. It’s crucial to be aware that when it comes to Company tax you have total responsibility for your tax. So, after you designate your accountant as your agent you have to make sure that things are handled correctly. You have to find an accountant that is sure of what they are working on and has experience with taking care of corporation tax.
Taking Care of Your Corporation Tax Responsibility
In order to ensure that your taxes are dealt with correctly you have to be sure that you understand the deadlines and the best way to settle any corporation tax due. This should make certain you provide the correct information to your accountants. In the end, they can only carry out a good job when they have the full details of your company’s financial affairs.
You will want to know when your accountants plan to carry out the necessary work so that you can supply them with the appropriate information in time. You will need to provide all related information about your company’s income, expenses, asset disposals, rebates, reliefs and losses. It is essential that you do not keep anything at all from the accountants so that they can properly work out your tax liability.
When you work with your accountants, you can be sure that your tax accountability is correctly dealt with. Doing it this way you will be able to keep clear of penalties and fines. Corporation tax is one thing you cannot ignore, therefore ensuring that you get it handled appropriately is very important.