Corporation tax returns in Galleywood

Limited companies in Galleywood of every size below the large-company regime: companies whose accounts are prepared by another firm or in-house and need the tax return filed, companies with capital expenditure to claim, companies that have made a loss and want it used well, groups of associated companies, and companies whose CT600 is already overdue.

• Corporation Tax computation reconciling accounting profit to taxable profit, with every adjustment explained
• Capital allowances claimed in full: annual investment allowance, full expensing, writing-down allowances and the special rate pool
• Loss relief planned and claimed: carry back, carry forward and group relief where it applies
• Marginal relief and associated-company rules applied correctly between the 19% and 25% rates
• CT600 with supplementary pages, iXBRL-tagged accounts and computation, filed electronically with HMRC
• Payment note with amount, due date and HMRC reference, and reminders before the payment and filing dates

1. Tell us your situation

   A short message or call about what you do and what needs filing. We ask the questions that determine the right package and nothing more.

2. Fixed fee in writing

   You receive one price for the work, confirmed by email before anything starts. It does not change if the job takes longer than we expected.

3. Send records, review the draft

   Records come by WhatsApp or email. We prepare the draft, explain the figures in plain English and answer your questions.

4. We file, you get the receipts

   Once you approve and the fee is settled, we submit electronically and forward the HMRC or Companies House acknowledgement the same day.

Galleywood is in South East, England. Income tax in England follows the UK rates: 20% basic to £50,270, 40% higher to £125,140 and 45% additional, with the personal allowance of £12,570 tapered away above £100,000. National Insurance, VAT and Corporation Tax are UK-wide, and Stamp Duty Land Tax applies to property purchases.

Confirmation statements and identity verification

The confirmation statement is the annual check that the public register is right: officers, registered office, SIC codes, shareholders and the PSC register. It carries a £50 fee and no financial penalty for lateness, but failure to file leads to compulsory strike-off. The identity verification regime introduced in November 2025 has added a further check to every statement.

CIS deductions

CIS turns construction subcontractors into advance taxpayers: a fifth of every labour payment goes to HMRC before they see it. Registering keeps the rate at 20% rather than 30%; gross payment status, for established businesses with a clean record, removes deductions altogether. The annual return is where the overpayment comes back, and filing it early brings the refund sooner.

Late filing penalties

HMRC's penalties for a late Self Assessment return are automatic: £100 the day after 31 January, £10 a day from three months late up to £900, then the greater of £300 or 5% of the tax at six and twelve months. Interest and separate late-payment penalties apply to the tax itself. Companies House charges £150 to £1,500 for late accounts, doubling for a second consecutive year.

Making Tax Digital for Income Tax

Making Tax Digital for Income Tax began in April 2026 for sole traders and landlords with qualifying income over £50,000, extends to those over £30,000 in April 2027 and is planned for £20,000 in April 2028. It requires digital records in compatible software and four quarterly updates to HMRC each year, with a final declaration replacing the traditional return. Payment dates are unchanged.

The Self Assessment calendar

The tax year runs from 6 April to 5 April. Anyone new to Self Assessment must register by 5 October after the end of the tax year in which their untaxed income began. The online return and the balancing payment are due by 31 January, with a second payment on account on 31 July where they apply. Paper returns have an earlier deadline of 31 October and are rarely sensible.

Payments on account

A common surprise in Self Assessment is the January payment that is far larger than expected. That is the balancing payment for the year just ended plus the first payment on account for the year ahead, which HMRC sets at half of the bill just calculated. We put the figure in your hands months ahead and tell you how to adjust it legitimately when circumstances change.

Salary versus dividends

Paying yourself from a company involves two routes with different tax treatment. Salary through payroll is a company expense and builds a National Insurance record; dividends come from post-tax profit at lower personal rates. Undocumented drawings that are neither become director's loans, with a 35.75% section 455 charge if not repaid within nine months of the year end.