Company Tax Returns

 

If you’re a charity or unincorporated association you can only use this service to file your Company Tax Return.  Company Tax Returns You’ll need to use filing software to file your accounts online with Companies House. When you set up a limited company you’ll have dates to submit annual accounts to Companies House and a company tax return to HMRC. The period covered by your tax return can’t be longer than 12 months so if you have been trading for longer than that, you may have to file two tax returns to cover the period of your first accounts. If you do, you’ll also have two payment deadlines. In the following years, you will usually only file one tax return.A lot of self-employed people choose to set up Limited Companies. They limit the amount of money you stand to lose if it all goes wrong, and can lower your personal tax bill. There's also a certain prestige that goes along with setting up this way. It's a sign that you're taking your business seriously, which can help when you need to impress lenders or customers. File your limited company or organisation's Company Tax Return with HMRC - you may also be able to file your accounts jointly with Companies House Corporate Income Tax (CIT) is a tax imposed on companies resident in the Republic of South Africa i.e. incorporated under the laws of, or which are effectively managed in, the Republic, and which derive income from within or outside the Republic. Non-resident companies which operate through a branch or which have a permanent establishment within the Republic are subject to tax on all income from a source within the Republic. As a company director or shareholder, you will want to make sure your company tax return is filed properly and on time, which will enable your company to meet its legal obligations and avoid late penalties.You will also want your company tax return to make the most of any allowances and choices you can make to minimise your total corporation tax liability. The company tax return is based on the profit and loss shown in your financial accounts, but these need to be adjusted to allow for the different way in which corporation tax reliefs and allowances are treated.The company tax return must include a tax calculation, showing how the profits in your financial accounts have been adjusted to work out the taxable profits included in the corporation tax return. For example, you can only deduct allowable expenses when working out your profits, and use set capital allowances rather than your own depreciation charges for assets such as equipment and premises.