Corporation tax compliance and accounting

If you are running a business in the UK whether it is part of a large international group or a family business, it is important to maintain adequate accounting and business records for both commercial and compliance purposes.

Every company must submit a corporation tax return on an annual basis, usually 12 months after the end of an accounting period. For many businesses this is a complicated, retrospective and time-consuming exercise, and an additional burden which takes focus away from the core task of running the business.

We work with our clients to ensure that their corporation tax returns are completed efficiently and correctly, that transfer pricing obligations are met, that the interest cap rules have been considered and that all possible, relevant tax reliefs and allowances have been claimed.

We also provide tax accounting services. We find that these services are especially valuable to entities with any type of listing, as their auditors are conflicted and therefore not able to assist with the preparation of the tax disclosures for the accounts. This often results in Finance Directors spending hours of their valuable time on the tax numbers.

Our tax accounting services consist of preparing the tax provisions and disclosures for our clients’ statutory accounts, both at an entity and group level. This often integrates well with the preparation of the tax computations and returns and enables clients to rely on us to manage their group’s corporation tax affairs for any particular year from start to finish.

The in-depth knowledge of a business which is gained through this work is invaluable in being able to identify other tax efficiency opportunities for a group and ensuring that companies remain tax-compliant.