11 Legal Ways To Upgrade Your Corporate Tax Planning Process
Corporate Tax Services
Everyone wants to run their company as tax efficiently as possible. However, as new, more stringent regulations are implemented, you must understand the level of risk and compliance required.
Furthermore, the complexity of your tax obligations increases as you grow. You certainly understand that maintaining a positive relationship with HMRC is critical to maintaining your reputation – and, in some cases, avoiding penalties, fines and worse- but getting everything right can feel overwhelming at a time when things are already more complex than ever before.
Pearl Lemon Accounting’s corporate tax experts work closely with businesses of all sizes and industries, customizing our corporate tax services to meet your needs. We’ll make sure your financial planning is sound, your tax reliefs are maximized, your compliance obligations are met – and your overall tax risk is effectively managed. And we do all this with a down-to-earth, no-nonsense personal approach.
Pearl Lemon Accounting's Corporate Tax Services
Corporate Tax Compliance
It’s crucial that all your interactions with HMRC are timely and correct. As a part of a corporate tax compliance package, we can offer all the following and more:
- Preparation of tax returns for businesses of all sizes
- Electronic tagging of accounts, tax returns, and supporting computations
- Assistance in complying with HMRC’s electronic return filing requirements
- HMRC inquiry assistance
- Self-assessment guidance for corporations
- Capital allowance reviews and guidance
- Advice on how to make the most of tax allowances
- Advice on how to make the most of available tax reliefs
- Monitoring and advising on tax liabilities, including quarterly instalments, in a timely manner.
- VAT and PAYE compliance services
Reorganization and Restructuring Advice
Corporate restructuring and reorganizations raise a number of tax issues that must be carefully considered and planned for. We can make sure that any reorganization, restructuring, or diversification of your company is done in the most tax-effective way possible.
While a reorganization to achieve the right structure may incur some upfront costs, it can often result in significant savings and provide opportunities for a company to grow and innovate in the medium to long term.
There are a number of tax reliefs that can be used to reduce or eliminate tax liabilities that arise as a result of a reorganization. Many of these exemptions come with their own set of rules and conditions. And plenty of room for error
We can help you in ensuring that a restructuring, reorganization, merger, or demerger is carried out in the most tax-efficient manner possible. Making a mistake can result in unpleasant surprises and increased tax liabilities, and those we want to help you avoid!
Mergers and Acquisitions Advice
Mergers and acquisitions are a common part of the growth of many firms. They are complex undertakings however, rife with opportunities to make costly mistakes.
When it comes to M&A transactions we can help:
- Prepare a sales or acquisition strategy.
- Consider your exit strategy or retirement strategy.
- Understand the benefits and drawbacks of various transaction options. For instance, consider the difference between a stock sale and a trade or an asset sale.
- Make a list of the steps you’ll need to take to complete the transaction in a tax-efficient manner.
- Consider the tax implications of various funding options, as well as the debt financing tax reliefs available.
- From a tax due diligence standpoint, examine a target’s tax management and reporting. Identifying any tax exposures, areas of concern, or tax attributes and assets that must be considered as part of the deal mechanism.
- Investigate and resolve tax disputes that arise after a transaction has been completed.
Why Choose Pearl Lemon Accounting?
We are respected for our expert advice, ability to make sound decisions, and willingness to provide long-term value. We are well positioned to offer insight and practical advice to businesses of all sizes due to our broad expertise and deep knowledge.
While we can – and do – serve both personal and corporate clients, we know that often HMRC is the hardest on businesses, for whom there is very little room for error. Working with us will ensure that you stay on their good side while also making the most of every tax relief opportunity while growing your business.
What happens if I can't pay my Corporation Tax?
If you can’t pay your corporation tax, HMRC will send you a warning letter stating that your payment is late.
If you choose not to respond, they may send an enforcement officer to your place of business to seize certain items.
Need help with your corporate tax? Book a call with our experts today!
How much is Corporation Tax in the UK?
In the UK, corporation tax is 19%.
Do all companies pay Corporation Tax?
Yes, all companies in the UK must pay corporation tax.
What can you claim against corporation tax?
You can claim reliefs against corporation tax, such as the R&D relief (research and development).
How does UK Corporation Tax work?
Every company must pay taxes on profits earned through business transactions, investments, and capital profits. Usually, the rate for a corporation tax rate is 19%.
If you would like more information. Feel free to Book a call with our experts today!