Why Gerald Edelman?

We work closely with business owners, CEOs and Financial Directors to understand how their organisation operates and develop a detailed understanding of their tax obligations. Clients soon begin to see us as a trusted advisor and valuable extension of their team, not just a third-party provider.

Our accountants are here to manage your relationship with HMRC, pinpoint tax efficiencies, advise on expenses, and mitigate your exposure to unnecessary costs. We have substantial experience in handling the ins and outs of tax compliance, staying on the pulse of changing circumstances and obligations so that you don’t have to.

Get in touch via the ‘Contact’ button above to discuss your situation with one of our advisors today, or discover more about our corporation tax services below.

How can we help?

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Tax-efficient structures

We will determine the most tax-efficient structure for your business and assist you in accessing tax-saving opportunities and reliefs.

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Corporation tax returns

We will manage and prepare your company tax returns in good time. We’ll look for ways to minimise your business tax, and we’ll act on your behalf in all discussions with HMRC.

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Tax planning

Unlike other accountants, we take a holistic view of your business and explore where related efficiencies may be achieved – such as R&D, disposals and acquisitions.

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Large companies

Our corporate tax accountants have significant experience in advising large corporations in respect of their tax obligations. This can range from and is not limited to determining the correct payment regime the company falls into, transfer pricing implications, corporate interest restriction planning, and maximising relief and allowances. 

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Succession/exit planning

When the time is right, owners will look to exit their businesses. There are several ways a business owner can achieve this. The company could be sold to a third party, passed onto the next generation, or wound up. Businesses must have a clear succession and exit plan, which may evolve over time. We can help you devise a plan.

What happens next?

Most business owners don’t have the time to manage corporation tax obligations themselves, which means they either fail to spot crucial tax-saving opportunities or, worse still, fail to meet critical deadlines with HMRC.

Our team will ensure that your business capitalises on every viable allowance and deduction. We will keep your business on HMRC’s good side by never missing a deadline and substantially reduce the risk of any penalties or investigations. 

We've helped thousands of companies of all shapes and sizes prepare for and minimise their annual corporation tax bill. We provide an entirely bespoke service, getting to know your business in detail and aiming to become a true, long-term partner.

We'd be happy to arrange a free consultation with you over the phone, by video call, or at our Cornhill office in the City of London. Get in touch by filling in the enquiry form above. Or you can speak to one of our tax advisors by calling +44 (0)20 7299 1400.

What you need to know about corporation tax

Any company that profits from business activities in the UK must pay corporation tax. Naturally, this includes all UK-based companies, but it also extends to any foreign companies with offices in the UK. 

Typically, the corporation tax rate is 19% regardless of your total profits, although there are different rules for ring fence companies. The government announced a reduction in the corporate tax rate to 17% from 1st April 2020 in the 2016 Budget, but it was then decided to maintain the current rate of 19% in the 2020 Budget.

For compliance, businesses must register with HMRC and keep accounting records. Then, you must prepare annual accounts covering your accounting period, which HRMC sets after registering. You’ll then work out the amount of corporation tax owed and pay it.

A business can reduce its corporation tax liability through various means. There are several reliefs and allowances available, including:

  • Business expenses - certain expenses can offset your corporate tax, such as sponsorships, business travel and office stationery.
  • Capital allowances - you can deduct the cost of purchasing business assets, like equipment, from your profits. Companies have a capital investment allowance of £1million between 1st January 2019 and 31st December 2021.
  • Research and development (R&D) - companies that invest in research and development projects may be able to claim tax relief.
  • Creative industries - companies profiting from creative pursuits, such as planning and production of films, television, theatre and video games, may be eligible for tax relief.
  • Patent box scheme - companies profiting from the patents they own or license may only need to pay a corporation tax rate of 10% on the income.

We can help you with every aspect of your corporation tax, from preparing your tax return to working out where to minimise your bill. Get in touch with our team today to learn more. 

Meet the team

"My work mainly focuses on providing tax advice to clients, from high net worth individuals and personal tax clients to non-resident landlords."

Frequently Asked Questions

Yes, we often advise clients on different ways to reduce their business tax bills and pay as little corporation tax as possible. There are many ways to do so, and an expert accountant will be able to talk through the best options for your business.

Our team works with businesses of all sizes, from fledgeling start-ups to multinational corporations, though most of our client base are mid-market businesses. We also serve clients across a wide range of industries, which gives us a comprehensive perspective when pinpointing tax efficiencies.

Corporation tax is only levied on profits, so if your company operates at a loss over your annual accounting period, you will not owe any corporation tax. However, you must still report your accounts to HMRC, and it’s valuable to do so as losses can be carried forward from previous years to offset future tax bills.

To speak to our team, call us or send us a message using the following form and we will be in touch.

T: +44 (0)20 7299 1400

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