Corporation Tax CT600
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What is a Corporation Tax CT600?
In the UK, limited companies are required to submit their annual corporation tax to HMRC by filing Form CT600. Filing the form is mandatory for companies to report and pay their Corporation Tax liability. Companies must provide information on their profits, deductions, tax adjustments, and other financial information on the CT600 form.
There are various sections in the Corporation Tax CT600 requiring information about:
- Data about your company and return: your company name and type, the company's ten-digit Unique Tax Reference (UTR) number, and the accounting period.
- Tax calculation: An individual's tax calculations are based on his or her business' turnover, profits and losses, earnings, and expenses.
- Declaration: the business account is complete for submission, along with the name of the employee making the return.
Who needs to complete a CT600 form?
Taxes are paid by companies on their trading and investment profits. It may also be necessary to submit a CT600 for other organizations, such as associations, societies, clubs, and charities.
In this case, your business will be liable for taxes if it has made any profits.
As a rule of thumb, profit is the total turnover for an entire calendar year, minus all outgoings like salaries, mileage, and expenses, as well as capital allowances. On the remaining profits, the company is responsible for paying corporation tax.
Deadline for filing the CT600
You should deliver your company’s tax return after the end of the accounting period, but no later than the legal filing date, which is usually:
- If the accounting period ends after 12 months,
- Upon receiving the Notice of intent to file for corporation tax (form CT603), the company has three months to file its return
How Our Corporation Tax CT600 Service Can Help You
As a business owner, you need help figuring out how much Corporation Tax you owe under Corporation Tax Self-Assessment (CTSA). We understand that owner-managed firms face a lot of challenges.
With our certified tax consultants, you can expect fast and accurate tax return preparation. We’ll also help you determine your company’s tax obligations and assist with any quarterly installment payments. You can count on us to make the process as easy and stress-free as possible.
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