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Tax Planning Tips ? Filing your company tax returns

Posted by BrianMiller on October 22nd, 2016

Paying taxes is an important aspect of running a business. It is only by paying taxes that you can be at peace with HMRC officials. To improve your tax planning skills, you need the support of accountants in Essex. They will eliminate your odds of making a mistake. Furthermore, they will save you considerable time which can be invested in your family or business.

The right way to file your company tax return is through HMRC’s website. It does not matter whether you have a private company, a charity, corporation or an association. The online service portal is the quickest way to file your return. But prior to doing this, you must receive the right tax planning help from a certified accountant. They should be the ones to compute and compile your annual accounts. This is the right way to make sure that you file only balanced accounts. The liabilities and assets should tally.

If you cannot be good at this work, let the accountant who has been trained in tax issues help you. They will be answerable if your annual accounts have errors. Are you a sport’s club or another association that is unincorporated? If that’s the case, you should file a PDF file showing your accounts. Simply upload it on the official HMRC’s portal. If you do not want the hassle of computing and filing taxes, let accountants in Essex help you.

When filing online, they will need your HMRC online account user-word and password. Then, they will need your Companies House password plus an authentication code. So it means that you need to register with the Companies House to get these details.  Just do it online. There are moments when using a commercial software is needed. This is when you wish to file company accounts to Companies House and you have a turnover of over six-point-five million pounds. As well, you can use the commercial software if your total return to HMRC is over six hundred and thirty-two thousand pounds.

Your tax planning professionals should do this for you.  If you want to apply in another way other than online, use a form called CT600. But the HMRC expects you to have a reasonable excuse. When it comes to corporation tax, you expect to qualify if you are a limited company, a foreign company having a branch in the UK or an unincorporated association. If you don’t get a bill for corporation tax, there are things to do in order to report and pay your taxes. First you should register for Corporation tax online as soon as you have a start-up business or when you re-open an old one.

If you are an unincorporated association, you have to write to the tax collector. Second, you must depend on your esteemed accountants in Essex to maintain proper company accounts. This is so you could report your corporate tax return with ease at the end of the year. If you have not made profits by the time you are expected to file your returns, just report nothing. Ensure that you report or pay taxes before the deadline. It is typically nine months and one day after your accounting period comes to an end.  

We provide first-rate tax planning help. If you need us, ensure that you call us to learn more about our services. Our accountants in Essex have a lot of knowledge and expertise in matters to do wit taxation. They are very reliable.

Also See: Tax Planning, Paying Taxes, Corporation Tax, Companies House, Tax, Taxes, File

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