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Corporation Tax and Your Business

How much do you know about Corporation Tax? If you own or run a business in the UK, you will almost certainly come across this type of tax. But how you approach it can have a huge impact on your business.


By definition, Corporation Tax is a direct tax imposed on the income or capital of corporations.


It is payable on the taxable profits of Limited Companies (either private or PLC) and other organisations including Clubs, Societies, Associations and other unincorporated bodies. If your company or organisation is based in the UK you will have to pay Corporation Tax on your profits, and you will need an accountant for your Corporation Tax to advise and take care of your Corporation Tax returns.


Afford Bond Chartered Accountants are experts in all aspects of Corporation Tax.


"As with all taxes," said Afford Bond Partner, Paul Edwards, "there are deadlines for submission of the tax returns and payment of outstanding tax. Miss these and you could be liable for a fine from HM Revenue and Customs. Corporation Tax may seem like a minefield to any SME business owner but to Afford Bond, Corporation Tax is familiar territory and we will make sure that your Corporation Tax returns are filed and your tax paid on time."


That’s the hard part taken care of. Our team will also take a close look at your business and will be able to advise and assist with all of your company's accounting and tax needs. For example:


- Determining the most tax effective structure for your business.


- Taking full advantage of tax opportunities and reliefs.


- Achieving the optimum capital or revenue tax savings.


- Reducing tax on disposals and maximising relief on acquisitions.


- Making the most of tax opportunities specific to your industry.


- Meeting the rigorous demands of compliance including corporation tax self-assessment.


- Acting on your behalf in discussions with the tax authorities.


Efficient corporate tax planning can result in potentially significant improvements in your bottom line and Afford Bond provide robust and cost-effective accounting and tax advice. We stay ahead of all complex changes in the UK and global tax legislation and we’ll advise you on the ways we can help minimise your tax bill. We can also take care of all taxation matters for your employees.


At Afford Bond, our Corporation Tax specialist team have both the technical knowledge and practical experience to address any tax matters that your business might face. We'll understand your business first and work closely with you to provide timely and cost-effective solutions to your challenges, along with identifying tax savings you could make. For more details, please contact us using the Contact Us form on our website at www.affordbond.co.uk

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