Property Development Advise

 

The return is a statement of income and expenditure of the business. Also,  any tax to be paid on the profits made by you is declared in this return. Property Development Advise The return also contains details of the assets and liabilities held by the business. Items like fixed assets, debtors and creditors of business, loans taken and loans were given are declared here.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.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.