Corporation tax is one of the largest outgoings a limited company carries. Unfortunately, it’s often one of the easiest things to get wrong. Rates, reliefs and filing rules shift from one year to the next. The gap between a return that’s simply correct and one that’s been properly considered can run into the thousands.
Darnells has acted for limited companies across Devon and the South West for more than 80 years. Our corporate tax accountants prepare the computations, file the CT600 and deal with HMRC on your behalf. This helps give you confidence that your corporation tax affairs are managed carefully and that key deadlines are monitored and met.
Every limited company must file a CT600 with HMRC within twelve months of the end of its accounting period. Payment falls earlier, nine months and one day after the period ends. This often catches out companies that treat the two dates as one. Penalties and interest start to build from the moment either date passes.
We prepare the corporation tax computation from your statutory accounts, reconcile the tax charge, file the CT600 and provide clear guidance on your payment position ahead of key deadlines. The figures reach you with enough notice to plan cash flow around them.
Companies with taxable profits above the instalment threshold pay quarterly rather than in a single sum. We monitor profit levels and keep you informed if your company approaches the instalment payment regime, helping you prepare for any changes to payment requirements.
For companies already working with another accountant, we handle the transfer of records and authorisations directly. The process is usually straightforward, and we guide you through each stage of the transition.
Small companies sit under the same rules as larger ones without the internal finance function to keep pace. Marginal relief, associated company rules and the treatment of directors’ loans catch out smaller businesses more often than any other area of company tax.
Associated companies are the most common problem we see. Where a director holds interests in more than one company, those may need to be counted together. Combining them lowers the threshold at which the main rate applies. Directors are often unaware of the impact until a return is being prepared. We review the position regularly and highlight potential implications so that informed decisions can be made.
Our corporation tax accountants act for small businesses run by their owners, family companies and growing limited companies across the region. The company tax work carries the same rigour at a scale that fits the business. We aim to provide proactive advice wherever possible, helping you consider the tax implications of key decisions before they are implemented.
Preparation of the corporation tax computation, reconciliation of the tax charge in your accounts and filing of the CT600 with HMRC.
Review of qualifying expenditure to help ensure available allowances and reliefs are considered and claimed where appropriate. Plant and machinery allowances, structures and buildings allowances and the reliefs on qualifying assets are checked against your fixed asset register each year.
Calculation of current and deferred tax for your statutory accounts, with supporting notes prepared to the standard your auditors or lenders expect.
We act as your agent with HMRC, handle routine correspondence and represent you through compliance checks and formal enquiries.
Tax input on share reorganisations, group structures, acquisitions and disposals, including the clearances required in advance.
Trading losses can be carried back, carried forward or surrendered within a group. We explain the available options and their potential tax implications, helping you determine the most appropriate approach for your circumstances.
Darnells is regulated by the Institute of Chartered Accountants in England and Wales. Every corporation tax return we file has been through a qualified review. The person who prepares your computation is the person you speak to about it.
Offices in Newton Abbot, Exeter and Totnes mean company directors across Devon can meet their accountant in person. Clients who prefer to work remotely do so. Whether you prefer face-to-face meetings or remote support, you’ll receive the same high level of service and expertise from our team.
Corporation tax rarely sits on its own. Directors drawing dividends, companies holding property and businesses planning a sale all face decisions where the company position and the personal position interact. Our tax team works across both, so the answer accounts for each.
A corporate tax accountant calculates the tax a limited company owes, prepares the corporation tax computation and files the CT600 return with HMRC. The role extends past compliance into claiming the reliefs and allowances a company qualifies for, planning the timing of expenditure and dealing with HMRC on the company’s behalf.
There’s no legal requirement to appoint one. Directors remain personally responsible for the accuracy of the return. The computation draws on statutory accounts, capital allowances and reliefs that each carry their own rules, so most limited companies appoint an accountant to keep the filing correct and the available reliefs claimed.
The CT600 must reach HMRC within twelve months of the end of your accounting period. Payment is due earlier, at nine months and one day after the period ends. Companies with larger taxable profits pay in quarterly instalments instead.
Marginal relief reduces the rate paid by companies with profits between the lower and upper thresholds. The charge is tapered rather than applying the main rate in full. Whether a company qualifies depends on its profits and on how many associated companies it has. We check both positions as part of preparing the return.
Yes. We write to your existing accountant for professional clearance and the handover records, then register as your agent with HMRC and pick up from the last filed position. We manage as much of the transfer process as possible and will keep you informed if any action is required from you.
Yes. Our offices are in Newton Abbot, Exeter and Totnes. We act for limited companies across the South West and further afield where the work suits a remote arrangement.
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