Corporation Tax in the UK

Setting the foundations for long term success

However attractive the UK Corporation Tax rate is, it still represents a liability to your business.

Being unaware of the tax implications of some business decisions or getting the timing wrong can have considerable consequences for cashflow at the very least. In the worst case scenarios, not getting your tax strategy right at the start can have even more damaging consequences.

We invest in understanding what the long term ambitions and objectives are for companies and their directors and then work to ensure that the tax strategy supports those goals.

Making sure you benefit from all your entitled reliefs

There are multiple reliefs that you may be entitled to but many businesses are not always aware of what they might qualify for. We can alert you to those you may qualify for.

One area where the government is keen to incentivise businesses is in innovation so there are Research & Development credits  available to businesses who have made a genuine investment in innovation. These apply to all businesses and we have considerable experience in making claims for some of the less obvious sectors such as construction.

Taking away the admin burden

We can also work alongside your finance function or take over the administration of your Corporation Tax computations and Returns.

Ways we have helped include:

  • Capital allowances can be lost if not claimed and we regularly work with clients to maximise the tax reliefs available. For example we assisted a printing operation maximise capital allowances on various factory reconfigurations which were associated with business expansion and equipment replacement.
  • We have worked with a property development group to structure their debt and equity financing in a way that maximises tax deductions and accelerates tax reliefs.
  • For an international client in the software sector this advice extended to ensuring that withholding taxes are minimised.
  • We have modelled the interaction of reported results and tax deductions in order for an international group of advertisers to identify the cashflow impact of accounting policy decisions. This assisted in determining the differences between UK GAAP reporting and reporting under IFRS.
  • We have worked with construction groups to make successful R&D claims which has resulted in some very quick and welcome payments.
  • We have helped media clients structure IP strategies to maximise tax reliefs and minimise group costs such as withholding taxes.