Corporation Tax Services (CT600)

Managing Corporation Tax is an essential responsibility for any UK-registered business. At Affotax, we offer expert services to ensure your Corporation Tax obligations are met accurately and efficiently, helping you file your CT600 (Corporation Tax Return) with ease. Our team of tax professionals provides a comprehensive solution to make your tax filing process straightforward, compliant, and stress-free.

Whether you're a small business or an established company, our CT600 filing service is designed to ensure that your Corporation Tax return is filed on time and with full accuracy, helping you minimise potential penalties and optimise your tax position.

Why is Corporation Tax and the CT600 Important?

Corporation Tax is a mandatory tax levied on the profits of UK-registered companies, including income from sales, investments, and other activities. As part of your Corporation Tax obligations, your company is required to submit an annual CT600 form to HMRC, detailing your taxable profits and tax liabilities.

The CT600 form is critical in reporting your company’s financial data to HMRC. Failing to file it correctly or on time can lead to penalties, interest charges, and compliance issues.

At Affotax, we ensure that your CT600 return is filed accurately and promptly, so you can avoid penalties and focus on running your business.

Efficient CT600 Filing and Tax Planning

We provide a complete range of services designed to support businesses with their Corporation Tax filings, including accurate CT600 submissions. Our services include:

• CT600 Preparation and Filing: Our team handles the preparation of your CT600 form, ensuring that all financial data is accurately reported and in compliance with HMRC regulations. We file the form directly to HMRC online, ensuring it’s done on time.
• Tax Calculation and Planning: We calculate your taxable profits by reviewing your income, allowable expenses, and tax reliefs. Our experts will help you identify potential opportunities to reduce your Corporation Tax liability.
• Maximising Tax Reliefs: Our team helps you take advantage of tax reliefs and allowances that can reduce your Corporation Tax bill. We ensure that any available reliefs, such as the Annual Investment Allowance (AIA), are applied correctly.
• Ongoing Support and Advice: We provide ongoing support to ensure your Corporation Tax filings remain accurate and up to date. Whether you need advice on managing profits, navigating tax changes, or preparing for future filings, our team is here to help.
• CT600 Audit Support: If your CT600 filing is selected for an HMRC audit, our experts will guide you through the audit process and ensure that all required documentation is in order.

Key Deadlines and Penalties for CT600 Filing

Meeting the deadline for CT600 filing is crucial to avoid penalties. The filing deadline is typically 12 months after the end of your company’s accounting period, while Corporation Tax payments are due 9 months and 1 day after the accounting period ends.

Who Needs to File a CT600 Form?

Every UK-registered limited company must file a CT600 form, including:

1. Active Trading Companies: All companies actively trading or making profits need to file a CT600 and pay Corporation Tax on their profits.
2. Dormant Companies: Even if your company is dormant (i.e., not actively trading), you still need to file a CT600 form to inform HMRC of your status.
3. Non-Resident Companies: If your company operates outside the UK but has UK-based income or business activities, it is still required to file a CT600.

Common Challenges with Filing the CT600

Filing a CT600 form can be challenging, especially if your company’s finances are complex or you’re unfamiliar with the tax rules. Some common difficulties include:

• Understanding Taxable Profits: It’s essential to know which incomes and expenses are taxable and which are deductible to correctly calculate your taxable profits.
• Navigating Tax Reliefs and Allowances: There are various reliefs and tax credits available, but claiming them can be complex. We help identify opportunities for tax reliefs like R&D tax credits, capital allowances, and the Annual Investment Allowance (AIA).
• Maintaining Accurate Records: Ensuring that all of your financial records are up to date and correctly reported is critical for accurate CT600 filing.

At Affotax, we simplify this process and ensure that your CT600 form is completed correctly, ensuring compliance and maximising your tax efficiency.

Penalities for Late Filling & Payment

1. Late Filing Penalties: If you fail to file your CT600 on time, penalties start at £100 and increase based on the length of the delay. After three months, the penalty increases, and after six months, further penalties are added.
2. Late Payment Penalties: If Corporation Tax is not paid on time, HMRC will charge interest on the unpaid amount. The longer the delay, the higher the penalties.

Get Started with Affotax

Ready to simplify your Corporation Tax filing and CT600 submission? Contact Affotax today to schedule a consultation with one of our tax professionals. We'll work closely with you to ensure your CT600 is filed accurately, on time, and with all available tax reliefs considered.

Let us handle the complexities of Corporation Tax, while you focus on growing your business.