PRACTICAL GUIDE
Corporation Tax: A Director’s First-Year Timeline
Plan Corporation Tax from the point a company starts doing business to year-end filing and payment.
Read the full guide →HMRC COMPANY TAX
Corporation Tax FAQs for UK Companies
Corporation Tax FAQs for UK limited companies, directors and business owners. Learn the essential concepts behind taxable profits, Company Tax Returns, company records and HMRC registration.
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PRACTICAL GUIDE
Corporation Tax Records and Reporting: A Practical Guide
Build a reliable evidence trail before your company accounts and tax return are prepared.
Read the full guide →PRACTICAL GUIDE
Dormant Company Corporation Tax: Practical Checks
Understand why dormant status should be checked, evidenced and reviewed rather than assumed.
Read the full guide →RELEVANT PHOENIX TAX SERVICE
Apply this guidance to your own position
Choose the service that matches the filing, records or HMRC support you need.COMMONLY SEARCHED QUESTIONS
Corporation Tax FAQs for UK Companies
These answers are for general information. For a deadline, tax calculation or personal filing decision, contact Phoenix Tax Accountancy for advice based on your records and circumstances.
01What is Corporation Tax for a UK limited company?
Corporation Tax is a tax paid to HMRC by companies and certain organisations on taxable profits for an accounting period.
02Which UK businesses and companies have to pay Corporation Tax?
Limited companies, overseas companies with UK branches or offices, and some clubs, co-operatives and unincorporated associations can have Corporation Tax obligations.
03Does HMRC send a limited company a Corporation Tax bill?
No. Companies are responsible for working out, reporting and paying Corporation Tax through the appropriate HMRC process. This is why accurate records and timely preparation matter.
04What is a Company Tax Return and how does a company file it?
A Company Tax Return is the HMRC return used to report a company’s taxable profits and tax calculation. It is distinct from annual accounts filed at Companies House.
05What is a Corporation Tax accounting period for a limited company?
An accounting period is the period used for Corporation Tax reporting. It may not always align exactly with a company’s financial year, especially when a company starts, stops or changes its accounting reference date.
06How do I register a new limited company for Corporation Tax?
A company normally needs Corporation Tax services set up with HMRC. Companies registered with Companies House may be offered this as part of the set-up journey, but directors should confirm the position.
07What records are needed to prepare a Corporation Tax return?
Companies should keep records supporting income, expenditure, assets, liabilities, payroll, bank activity and other transactions used in accounts and tax calculations.
08Does a dormant company need to deal with Corporation Tax?
A company that is not trading may be treated as dormant for Corporation Tax, but directors should not assume this automatically. Confirm the company’s status and complete any required notifications or filings.
09Which limited company expenses are deductible for Corporation Tax?
Not automatically. The tax treatment of an expense depends on its nature, purpose and the applicable tax rules. Keep evidence and obtain advice for unclear, mixed-use or unusual expenditure.
10Can an accountant prepare Company Tax Returns and Corporation Tax calculations?
Yes. An accountant can prepare statutory accounts, calculate taxable profits, prepare the Company Tax Return and explain the information directors need to approve before filing.
OFFICIAL GUIDANCE
Check the current rules before acting
Tax rules and filing processes can change. Read the relevant official guidance and contact us if you need help applying it to your business or personal position.