Corporation Tax
Our comprehensive tax services can be tailored to meet your businesses specific needs.
Understanding Corporation Tax for Small Businesses
Corporation Tax is something every limited company in the UK needs to deal with, but it doesn’t have to be complicated. If you run a small business, knowing what you owe, when to pay it, and how to stay compliant can save you time, money, and stress.
At Calibra, we help small businesses stay on top of their Corporation Tax responsibilities. From calculating what’s due to submitting your company tax return on time, we make sure everything’s accurate and HMRC-ready. We also look for ways to reduce your tax bill legally, whether that’s through allowable expenses, reliefs, or smarter planning.
Whether you’re just starting out or growing fast, having the right support with Corporation Tax means fewer surprises and more confidence in your finances.
Our services
Tax Planning and Advisory
Our experts provide strategic advice to help you plan and structure your affairs efficiently, minimising tax liabilities while ensuring compliance with current legislation.
Preparation and Filing
We handle the preparation and timely submission of your corporation tax returns, ensuring accuracy and adherence to all regulatory requirements.
Compliance Management
Stay abreast of the latest tax laws and regulations with our compliance services, designed to keep your business aligned with statutory obligations.
Research and Development (R&D) Tax Credits
If your business invests in innovation, we can assist in identifying qualifying activities and securing available tax reliefs.
Tax Dispute Resolution
In the event of inquiries or disputes with tax authorities, our team provides representation and support to resolve matters efficiently.
Why work with Calibra?
Expertise
Our team comprises seasoned professionals with in-depth knowledge of corporation tax laws and practices.
Personalised Approach
We take the time to understand your business, offering solutions that align with your objectives and challenges.
Proactive Support
We anticipate changes in tax legislation and inform you of opportunities and risks, ensuring your business remains ahead.
Transparent Pricing
Enjoy clear, competitive pricing with no hidden fees, allowing you to plan your finances with confidence.
How we work
Step one
Consultation
We begin by understanding your business objectives, financial systems, and reporting needs.
Step two
Custom Setup
Our team customises the management accounts framework to align with your unique requirements.
Step three
Reporting
You receive detailed reports on a frequency that suits your business, complete with analysis and recommendations.
Step four
Ongoing Support
Our commitment doesn’t end with report delivery. We’re here to answer your questions, update your reports, and adjust our service as your business evolves.
Frequently Asked Questions
What is Corporation Tax and does my small business need to pay it?
Corporation Tax is a tax on the profits your limited company makes from trading, investments, and selling assets. If your business is registered as a limited company in the UK, you’ll need to pay Corporation Tax, even if you only make a small profit.
How much Corporation Tax will my small business pay?
The amount depends on your annual profits. As of now, businesses with profits up to £50,000 pay 19 percent. If your profits are higher, you may pay up to 25 percent, with marginal relief applied between the two thresholds.
When do I need to pay Corporation Tax?
You must pay Corporation Tax within nine months and one day after the end of your company’s accounting period. For example, if your financial year ends on 31 March, your payment is due by 1 January the following year.
Can I reduce my Corporation Tax bill?
Yes. You can claim allowable expenses, capital allowances, and reliefs such as Research and Development tax credits. Reviewing your salary and dividend structure can also help reduce your overall tax liability.
What happens if I miss the Corporation Tax deadline?
Missing the deadline can lead to penalties, interest charges, and even HMRC investigations. Filing your company tax return late may result in an initial £100 fine, with further charges if the delay continues.
