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At BusinessWise Accountants, we speak your language with a team of qualified professionals offering expert accountancy services in over 20 languages.
Corporation Tax
Corporation tax is paid on profit made by a corporation in the last 12 months. Any registered limited company is obliged to file for a corporation tax return, which is known as CT600. We at Businesswise Accountants ensure your company stays compliant, claims every relief available, and never misses a filing deadline.
Check if you are active or dormant
A company is normally considered active for corporation tax purposes when it is carrying on business activity, trading or receiving income. If your company is dormant, you must still inform HMRC. We help you determine your status and notify HMRC correctly so you avoid unnecessary returns or penalties.
What is active for Corporation Tax purposes
HMRC treats your company as active for corporation tax when it is involved in any of the following:
- Carrying on a business activity
- Buying and selling goods
- Providing services
- Earning interest
- Managing investments
- Receiving any other income
When to tell HMRC that your company is active
You must tell HMRC within three months of starting any business activity. This includes buying, selling, advertising, employing someone, or earning any income. Registering on time keeps your company compliant and avoids automatic penalties from HMRC.
Claiming Research and Development tax reliefs
£300,000
the lower limit
Loram ipsam the dolor sit amet consectetur. R&D tax relief can significantly reduce your corporation tax bill when your company invests in qualifying innovation and development work.
£1.5 million
the upper limit
Loram ipsam the dolor sit amet consectetur. Larger qualifying projects may attract enhanced relief — our specialists identify every eligible cost to maximise your claim.
Penalties for late filing
Missing your corporation tax deadline triggers automatic penalties that escalate the longer you delay:
- £100 immediately after the deadline
- A further £100 after three months
- 10% of unpaid tax after six months
- A further 10% after twelve months
What allowances you can claim
Capital allowances let you deduct the cost of qualifying assets — equipment, machinery, vehicles and more — from your taxable profit. Our team reviews your expenditure to ensure you claim every allowance you are entitled to and reduce your overall tax liability.
Join us for Free Consultation
Whether you’re looking to optimize your tax strategy, streamline your bookkeeping, or navigate complex financial regulations, our team of experienced professionals is here to guide you every step of the way. Book your free consultation today and take the first step toward financial clarity and success!