Corporation Tax

Our Expertise in Corporation Tax

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With over 30 years advising incorporated companies on tax affairs, our specialist corporation tax knowledge runs deep at Mitchell Associates. Key personnel hold ATT, ACA and ACCA qualifications so skills are always up-to-date on the latest compliance regulations, submissions processes and ways to legally minimise liabilities.

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We directly manage every facet of clients’ company tax obligations from adjusting annual profits, applying deductions and allowances through to preparing, reviewing and filing correct computations and returns.

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Our hands on collaboration aims to optimise tax efficiency so more profits are retained for reinvestment and growth.

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Comprehensive Corporation Tax Services

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Basics of Corporation Tax

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Corporation tax is a levy on company profits. Rules dictate which income streams comprise taxable profit and at what rate liabilities apply based on total annual profits. Understanding key facets like small profits allowance, associated companies, tax deductible costs and advance payment timelines helps establish strong compliance foundations.

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We advise new businesses on baseline filing obligations plus avenues to optimise corporation tax efficiency from their first accounting period. Equally, evolving commercial organisations benefit from our insight interpreting implications of growth, investment strategies or structural changes on future tax positions.

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Staying abreast of the latest allowances and regulations enables informed decision making today to sustain long term tax minimisation. Early stage tax planning creates commercial advantage.

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Corporation Tax Return Filing

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We manage all aspects of company tax return filing obligations for clients so deadlines are met without penalty. This includes adjusting annual accounts profit figure appropriately, applying legitimate deductions like capital allowances, utilising available reliefs plus any tax credits arising.

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Arriving at the final taxable total then checking accuracy of any advance Corporation Tax paid enables us to compute the exact outstanding liability or refund. We finalise submission ready returns for client review and approval before filing online well in advance of the 12 month statutory deadline to avoid fines.

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Smooth administration means directors avoid stressful paperwork so they can remain business focused. And have confidence in our tax experts upholding compliance.

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Strategic Corporation Tax Planning

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Legally minimising corporation tax liabilities via long term efficiency planning allows companies to retain more profit for reinvestment and growth. We explore areas like optimising use of tax reliefs, allowances planning around capital expenditure and company structuring options suited to commercial objectives.

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For example, correctly timing major investments to occur just before the year end can provide 100% upfront tax deduction on certain assets rather than spreading the benefit. We focus on compliant efficiencies, so more resources stay inside your organisation.

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Corporation tax rules evolve so we proactively advise on changes that could allow further reductions. Keeping tax liability low supports self funded expansion.

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Ensuring Accurate and Timely Submission

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Submitting tax returns containing errors risks tax investigation, penalties and interest charges accumulating on any late paid liabilities. We invest appropriate resource in review and verification processes so filings to HMRC are accurate first time.

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Calculation supporting schedules bridge the gap from raw accounts figures ensuring transparency on deductions applied. Developing strong audit trails combined with our tax technical diligence aims to facilitate seamless acceptance upon submission.

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It saves client resource correcting mistakes whilst reducing likelihood of query. And positions your company as low risk so tax authority attention focuses elsewhere.

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Assistance with HMRC Inquiries

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Should your company face a routine corporation tax compliance check or in-depth investigation from HMRC, we act as your representative to professionally manage interactions so disruption is minimised. Our experience means we understand common challenge areas so can prepare appropriate explanations and evidence beforehand to answer queries. In order to ensure that our costs for this work remain realistic and manageable, and that we are able to represent your interests fully, we offer comprehensive annual insurance cover for this service.

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Building open cooperative relationships with tax inspectors through regular communication allows us to clarify any information needs helping resolve cases quicker. We aim to prevent minor questions escalating into protracted scrutiny. Our expertise offers a reassuring support should scrutiny arise.

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Continuous Advice and Support

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Companies face frequent decisions impacted by corporation tax considerations - capital investment timing, company structuring, profit extraction strategies etc. We work as your sounding board providing timely tax-efficient advice to complement commercial context, so you have confidence exploring opportunities.

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Open dialogue means we understand your plans to tailor guidance aligned with strategic goals. We effectively become your tax department. Blending personal understanding of the directors with broad commercial awareness across sectors allows us to deliver balanced counsel regarding tax optimisation suitable for your risk profile.

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Why Choose Mitchell Associates for Corporation Tax

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Paying more corporation tax than required eats into hard earned profits limiting reinvestment and growth potential. With intricacies of allowances, timings and business structuring, advice from corporation tax specialists brings value.

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At Mitchell Associates our personal, partner-led approach offers insightful tax planning aligned to your commercial strategy so you can make decisions to sustainably minimise liabilities.

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For over 30 years SMEs have trusted our hands on collaboration to legally optimise obligations. Let us leverage the full breadth of expertise to enhance after-tax returns so more resources stay inside your company.