Corporation Tax Return (CT600) Services | Bradford UK
For every Limited Company in the UK, filing a Corporation Tax Return (CT600) with HMRC is a mandatory requirement. This crucial form must be submitted within 12 months following your company’s financial year-end.
The initial step involves notifying HMRC that your company is subject to Corporation Tax. Subsequently, you must accurately determine your company’s taxable profits for each accounting period and calculate the corresponding tax due. While the CT600 filing deadline is 12 months after the year-end, the actual tax payment is generally due within nine months and one day. Late returns or payments are subject to penalties and potential interest charges, emphasizing the importance of timely compliance. If you’re unsure about your company’s fiscal year-end, consulting the Companies House website is always advisable.
Corporation Tax, much like other taxes in the UK, is inherently complex. This is where Aksons Accounting & Finance UK, your expert Corporate Tax Accountant UK and Company Tax Return Advisor in Bradford, comes in. Our team of Accountants in Bradford and Tax Advisers Bradford can help you navigate these complexities, providing strategic planning to minimize your tax liability within legal frameworks.
It’s important to note that individuals, sole traders, and partnerships are not liable for Corporation Tax. Instead, they are required to file Self-Assessment Tax Returns (also known as Personal Tax Return or SA302). Aksons Accounting & Finance UK offers comprehensive support for both corporate and personal tax obligations, ensuring all your tax affairs are handled efficiently and effectively.
Penalties for late filing of the CT600 company tax return
If you miss the deadline to file your company tax return, fines can mount up very quickly, and HMRC may charge you one of the following fines up to a year:
- One day late: £100 penalty
- Three months late: Another £100 penalty
- Six months late: An additional penalty of 10% of your estimated corporation tax bill. HMRC makes this estimate, and you are unable to appeal against it.
- Twelve months late: Another 10% penalty of your estimated corporation tax bill.
