All active companies must file Corporation Tax Returns as this is a legal requirement
All active companies (and some dormant ones) must file Corporation Tax Returns as this is a legal requirement.
The Company Tax Return is based on the profit and loss shown in your financial accounts, but these need to be adjusted to allow for the different way in which corporation tax reliefs and allowances are treated.
The return must include a tax calculation, showing how the profits in your financial accounts have been adjusted to work out the taxable profits included in the corporation tax return.
Your Company Tax Return ideally needs to make the most of any allowances and choices you can make and you then may be entitled to minimise your Corporation Tax liability.
The return normally covers a 12 month accounting period that matches your company’s 12 month financial year and each return must be filed within 12 months of the end of the relevant corporation tax accounting period.
Corporation tax payment is generally due nine months after the end of your corporation tax accounting period – before your Corporation Tax Return is due.