Our Services
Corporation Tax
Keeping your business compliant at all times.
Every limited company in the UK pays corporation tax on their profits, yet complying with evolving tax laws and regulations can be a minefield.
That’s why we’re here. Based in London, our specialist corporation tax accountants can shoulder the burden for your business, reduce your tax bill and ensure you keep all bases covered.
Corporation Tax Services
How can we help?
Tax-efficient structures
We will determine the most tax-efficient structure for your business and assist you in accessing tax-saving opportunities and reliefs.
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.
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.
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.
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.
Get in touch
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 fail to meet critical deadlines with HMRC.
Our team will ensure that your business capitalises on every viable allowance and deduction and meets every deadline.
We’d be happy to arrange a free consultation with one of our corporation tax advisers – simply fill in the enquiry form or call us on the number below.
Call us
+44 (0)20 7299 1400Get in touch
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Why Choose Us
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 adviser 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.
Common Questions
Frequently asked questions
Can you help reduce my business’ corporation tax bill?
Yes, our corporate tax advisers can help your business reduce its tax obligations efficiently and effectively. There are many ways to do so, so it’s best to speak to a specialist who can review your situation and talk through the best options for your business.
What size of business do you typically work for?
Our team works with businesses of all sizes, from 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.
What do I 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. 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.
The government announced a change in the calculations for corporation tax in the Spring 2021 Budget, which means there are now varying corporation tax rates depending on total profits (and whether you are a ring-fence company). The Main Rate is 25%, applicable to company profits over £250,000. Profits between £50,000 and £250,000 will also be taxed at the 25% main rate but can be offset by claiming marginal relief. Profits below £50,000 are taxed at the Small Profits Rate of 19%.
What if we didn't make a profit?
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.
How can a business can reduce its corporation tax liability?
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 per accounting period (this can change, so check the latest allowance on the government website).
- 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.