Skip to content
Bruce Thomas accountants logo

Service

Corporation Tax returns and planning

Computations and CT600 filing, with the reliefs, allowances and extraction strategy reviewed before the return is submitted.

Book a ConsultationAsk a question
Modern office building exterior representing an established business

Overview

Corporation Tax explained

Corporation Tax is not simply a percentage of profit. The rate depends on profit level and associated companies, the taxable figure differs from the accounting figure, and a number of substantial reliefs are only available if claimed correctly and on time.

We prepare the computation as a planning exercise rather than a data entry task, and we do it early enough that the answer can still be influenced.

Benefits

What you get from it

Reliefs actually claimed

Capital allowances, full expensing where available, loss relief and R&D where the activity genuinely qualifies.

Marginal relief modelled

Profits between the lower and upper limits attract an effective rate well above the main rate. Timing decisions matter.

Extraction reviewed

Salary, dividends, pension contributions and director's loans looked at together rather than in isolation.

No late filing penalties

The CT600 and payment deadlines are tracked and confirmed to you in writing.

Included

What the service covers

  • Corporation Tax computation and CT600 preparation
  • Capital allowances and full expensing review
  • Loss relief planning — carry back, carry forward and group relief
  • R&D tax relief assessment where activity qualifies
  • Director's loan account and s455 review
  • Associated company and marginal relief analysis
  • Payment schedule and quarterly instalment advice
  • HMRC correspondence and enquiry support

Problems solved

Issues we see most often

Overdrawn director's loan

A s455 charge at 33.75% on the outstanding balance nine months after year end catches many owner-managers unaware.

Associated companies overlooked

The profit limits are divided by the number of associated companies, which can push a modest company into marginal relief.

Capital expenditure mis-treated

Repairs and improvements are treated very differently. Getting the split wrong costs relief or invites challenge.

Process

How we deliver it

  1. 01

    Accounts finalised

    The computation follows the accounts, so we start from a clean, reviewed trial balance.

  2. 02

    Adjustments

    Disallowables, allowances and reliefs applied, with each judgement documented.

  3. 03

    Planning

    We identify anything worth doing before the return is filed or before the next year end.

  4. 04

    Approval

    The computation and liability are explained to you, with the payment date confirmed.

  5. 05

    Filing

    CT600 and iXBRL accounts submitted to HMRC, with confirmation retained.

Local

In Scunthorpe and North Lincolnshire

Capital-intensive businesses are common around Scunthorpe. Where a company is investing in machinery, plant or commercial vehicles, the allowances available often make a material difference to the year's liability.

FAQs

Corporation Tax questions

Payment is due nine months and one day after the end of the accounting period, while the CT600 return is due twelve months after. Larger companies pay by quarterly instalments instead.

Enquire

Talk to us about corporation tax

Send a few details and we will come back to you with what we would do and what it would cost.

Send us an enquiry

Tell us a little about your business and we will come back to you with next steps.