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Corporate Taxation
Working closely with you to ensure you pay the minimum tax required by law…
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As tax advisers, our objective is to work closely with you to ensure you pay the minimum tax required by law.
We will help you to understand the tax implications of your actions, in order that you can plan ahead and conduct your affairs in a tax efficient way.
Corporation tax services
Under Corporation Tax Self Assessment (CTSA), the legal responsibility for correctly calculating the corporation tax liability falls on business owners. We understand the issues facing owner-managed businesses and can prepare tax returns in a timely and efficient manner. We will also calculate your company’s tax liability and assist with the calculation of any quarterly instalment payments due.
The increased reporting obligations, investigation policies on the part of the tax authorities and harsher penalties for non-compliance mean that your time and resources can be taken up with tax administration. We will help to minimise corporate tax exposure and relieve the administrative burden of compliance with current tax legislation. Effective corporate tax planning can also result in significant improvements in your bottom line.
HMRC Investigations and Enquiries
Being the subject of a tax investigation or enquiry by HMRC can be a stressful and worrying experience. We have a wealth of experience in dealing with HMRC investigations, whether they are enquiries into an individual’s Tax Return, more detailed enquiries into a company’s affairs or employer-related investigations into PAYE and P11d compliance. If you are the subject of an investigation, we can provide expert help and support. However we do recommend that all of our clients subscribe to our tax investigation service.
Tax Investigation Service
With the increased risk of such investigations we do recommend that all of our clients subscribe to our tax investigation service to protect you and your business from unexpected costs; an investigation will undoubtedly result in additional accountancy work being undertaken. The amount of work will depend upon the complexity of the case but the cost could be substantial. To subscribe to our service please do click here.
Why is Corporate Tax Planning So Important?
Your businesses require Corporate Tax Planning for financial planning and management. A company’s financial affairs must be structured and strategized to minimise its tax liability while remaining compliant with tax laws and regulations, which only a financial planner can understand. Some benefits of corporate tax planning are as follows:
- Better cash flow management
- Effective tax planning (ensures an increase in investment and growth)
- Cost reduction in tax efficient manner
- Legal compliance
- Avoiding tax evasion
- Better risk Management
- Enhanced stakeholder confidence
- Advising to the client
- Proper selection of mode of business to adopt
- Tax experts’ hand on advice for new tax benefits
- Making business decisions to take advantage of future tax
Our corporate tax planners at MMBA are experts in providing tax advice to the UK businesses.
Why you should consider Tax Planning?
Tax planning is a common and legitimate practice adopted by individuals and businesses to minimize their tax liabilities. It can help you optimize your financial situation and ensure you are not paying taxes more than necessary.
How a Corporate Tax Accountant can change your Business!
Corporate Tax Accountants can be game changers for your company. They can not only crunch numbers and fill out forms but can also bring a wealth of knowledge and expertise in tax planning to enhance your business’s financial health significantly. Let’s see how.
MMBA professional tax accountant specializes in managing and overseeing a company’s tax related activities, particularly those related to corporate taxation. Major responsibilities of corporate tax accountants are tax compliance; research; planning; credits and incentives; record keeping; risk management; communication; audits and disputes; and advisory services.
Contact an MMBA Corporate Tax Adviser Today
MMBA team is among the top-tier in corporate tax advisory services. Please get in touch with us and get easy, affordable, and excellent corporate tax planning advisory services.
Settling our Tax Affairs
“Settling our Tax Affairs” means the process of resolving any outstanding tax matters with the relevant tax authorities. That portion of the profit to be paid as corporate income tax by a business is referred to as the corporate tax burden. At MMBA, the whole process of “settling our tax affairs” involves:
- Identification of outstanding taxes
- Review and Assessment
- Amendments and Corrections
- Making payment plans in the most tax efficient way to save money
- Communication with tax authorities
- Negotiations and appeals
- Documentation
- Professional assistance
- Stay informed about updates regarding your tax situation
Corporate Property Tax
Corporate Property Tax is the tax imposed on the value of real property owned by businesses or corporations. It is assessed by local governments and is used to fund various infrastructure projects and public services within the jurisdiction.
Corporate Tax Advice from MMBA Accounting
MMBA Accounting delivers unparalleled corporate tax advice in the business sector. We provide expert guidance customised to your unique requirements. Our corporate tax advisory includes understanding the tax regulations, proper record keeping, choosing the right business entity structure, identification of tax deductions and credits to reduce your tax liability, understanding depreciation methods for your business, ensuring that you are withholding the correct amount of payroll taxes, making quarterly payment estimations to avoid underpayment penalties, searching for taking advantage of any tax incentives, and taking care of international tax considerations (in case your business operates internationally).
Tax Planning Expertise and Capital Gains Tax
To deal with capital gains tax (CGT), tax planning expertise is required because it can significantly impact your financial situation. Capital gains tax is levied on the capital gain (profit) realized from selling certain assets such as real estate, stocks, and other investments. Tax planning expertise can help you minimize your tax liability within the bounds of the law. To apply tax planning expertise to capital gains tax, MMBA tax planner assists you to:
- Understand tax rates and exemptions
- Utilize tax advantaged accounts
- Offset gains with losses
- Optimize transaction timings
- Navigate tax implications of gifts and inheritance
- Reduce tax liability (saving your money)
- Avoid common pitfalls
- Plan future effectively
Tax Investigation Adviser
MMBA’s Tax Investigation Advisor can come up with steps and considerations to ensure that you comply with all relevant tax laws when you seek tax advice for your business’s tax investigation. So, it is always recommended to involve tax investigations specialists in your businesses’ tax affairs to gain the most of the benefits.
Types of HMRC Tax Investigations
The HM Revenue and Customs in the UK conducts various investigations to ensure individuals and businesses comply with the UK tax system’s regulations. Most tax investigations include routine checks and in-depth investigations like random checks, VAT inspections, aspect enquiries, complete HMRC enquiries, self assessment investigations, employment status investigations, offshore tax investigations, PAYE audits, construction industry scheme (CIS) reviews, tax fraud and evasion investigations depending upon the tax bill issued by HM Revenue and Customs, transfer pricing and international tax investigations, offshore tax investigations, and accelerated payment notices.
Personal Tax Allowance
Personal tax allowance or personal allowance is the income an individual can earn before paying income tax.
This allowance is set by the government and varies on an annual basis. Tax specialists design it to ensure that people with lower incomes pay minimum or no income tax, providing a basic level of tax relief.
MMBA’s Corporate Taxation Resources and Knowledge Base
The MMBA Accountant offers a fantastic opportunity to stay updated with the most recent news and guidance.
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MMBA Startup Accountants FAQs:
Can I file my own tax returns?
Yes, you can file your own tax returns; it is called self filing or self assessment.
What is a personal tax allowance?
Personal tax allowance or personal allowance is the income an individual can earn before they are required to pay income tax.
What is MMBA’s Approach to Tax Planning?
At MMBA, we provide expert advice to clients by selecting the mode of business to adopt; searching and adopting techniques to ensure tax benefits; and facilitating in taking advantage of future tax. Our expert team can lower your tax burden, so MMBA is your right choice for corporate taxation advice.
How can I reduce my corporation tax?
To reduce your corporation tax liabilities, you must implement strategies that are compliant with tax laws and regulations in the jurisdiction and can potentially lower corporation tax liabilities.
Do I need an accountant for corporation tax?
Hiring accountants for corporate taxation is not a must, but it is always beneficial to work with qualified accountants or tax professionals to manage your corporation tax matters.
How is corporation tax calculated?
You can calculate corporation tax by determining your businesses’ taxable income, applying tax rate, calculating tax liability, and considering relevant tax credits and incentives.
What is the UK Corporation Tax Rate 2023?
The main corporation tax rate for the financial year beginning from 1 April 2023 is 25%.