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Many companies find
it helpful to appoint a tax agent who can liaise with HM Revenue &
Customs. HMRC will then correspond with the agent regarding all of the
taxation affairs of the company.
Corporation tax services for UK companies
UK companies must pay UK corporation tax on profits.
A UK company must file a notice of its existence to the Inland Revenue
normally within 3 months of incorporation, and must file with the Inland
Revenue a Corporation Tax Return no later than 12 months after its accounting
reference date.
A UK company must normally pay UK corporation tax on its profits. The
rates of corporation tax for 2007/08 are set at 20% for profits up to
£300,000 and with marginal rates for profits between £300,001
and £1.5m, and 30% standard rate applying to profits in excess of
£1.5 million.
UK tax resident companies must pay UK corporation tax on their worldwide
income and gains, subject to double taxation relief.
Should any corporation tax be due in the UK, this must be paid 9 months
after the accounting reference date. Should either of these dates be missed
then penalties and interest become payable.
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Companies subscribing
to Jordans Accounting Services pay a fixed annual fee £260 + VAT,
for which we will do the following:
- appoint Jordans
Accounting Services as the company’s tax agent, enabling H M Revenue
& Customs to liaise with us, rather than the directors, about the
company’s tax affairs
- deal with all
initial forms received from H M Revenue & Customs upon incorporation
- obtain S249 exemption
for the company if appropriate (see introductory notes)
- prepare and submit
the annual corporation tax return
- organise collection
and payment of any corporation tax due deal with miscellaneous queries
and correspondence from H M Revenue & Customs Vat registration and
Administration services
Next steps
For more information on our tax compliance services please contact
our Accounting Services team.
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