Corporation Tax for your technology business

All companies with a presence in the UK are required to file a Corporation Tax return with HMRC. Returns are typically due 12 months after the end of the company's accounting period. The Corporation Tax due/refundable is based on the company's tax adjusted profit/loss for the period.  Tax return services offered by a professional can help to make sure you always pay the correct amount of tax and not too much.

Technology companies often spend a significant amount of time and money investing in their technology. In addition to preparing your company tax return, we will identify ways you can minimise your tax bill. For example:

• Claiming R&D tax credits - this is a generous government incentive which allows SME tech companies incurring expenditure on R&D to claim an additional 86% tax deduction. Loss making companies have the option of claiming a tax refund from HMRC! This can be so valuable when you want to invest more in your technology development. You can find out more here.
• Making use of the patent box – patent box relief applies a reduced rate of 10% on profits attributable to your patented profits and can reduce your tax bill by 60%. 
• Tax relief on capital expenditure – without making a capital allowances claim you do not get tax relief on the assets you purchase for your business. We will review your capital spend and make sure you are getting relief for every asset you purchase. Where you are buying assets such as computer equipment we will ensure you get 100% tax relief at the time of purchase.
   

Our Corporation Tax approach

We use your business accounts and associated records to prepare your Corporation Tax return and, where required, supplementary Corporation Tax pages. We then submit the returns to HMRC, giving your piece of mind that all relevant reliefs and incentives have been claimed and that the tax due has been calculated accurately. We offer hassle free tax compliance services and ensure you never pay more tax than necessary.
 

Why choose our tax compliance services

• Legal requirement - all UK companies are required to calculate their taxable profits and these can often be drastically different to the profit as per the company financial accounts. Given the complexity of the tax calculations, using the services of a qualified Chartered Accountant will give you assurance that your tax has been calculated correctly.
• Tax planning - in addition to filing your returns we identify tax planning opportunities which can help prevent unexpected tax liabilities.
• Tax payment reminders - we will advise you on when, how and how much tax you have to pay each year so that you don't miss any deadlines and avoid HMRC penalties and late payment interest. 
• Affordable prices - we offer fixed fees that are reflective of the size and complexity of your business. 

Contact us

For a free consultation with a Chartered Accountant call us today on 07586 955861 or send us an online enquiry.