Your Local Accountant - Brighouse, Elland, Halifax & Huddersfield

• CT600 Filing & Compliance: Preparing and submitting your annual corporation tax returns accurately and on time to avoid HMRC penalties.
• Capital Allowances Optimisation: Identifying qualifying capital expenditure on commercial property, plant, and machinery to reduce your taxable profits.
• Group Tax Structuring: Advising on tax-efficient structures for groups of companies, including loss relief sharing and asset transfers.

• External Expert Collaboration: We can support you in your claims and work with external tax experts to ensure your R&D submissions are accurate and filed in accordance with HMRC legislation.
• Cost Data Gathering: Assisting your finance team in extracting, collating, and formatting the qualifying staff, software, and subcontractor cost data required for the claim.
• Audit Trail Preparation: Helping you establish clear internal records and documentation to back up your figures before they are handed over to specialists.

The main rate is 25% for profits over £250,000, with a 19% small profits rate for profits up to £50,000. Marginal relief applies between the two.

For most companies, corporation tax is due nine months and one day after the end of the accounting period. The CT600 return must be filed within 12 months.

If your company is working to resolve scientific or technological uncertainties, it may qualify, even outside traditional research sectors. First-time claimants usually need to submit a claim notification to HMRC within six months of the period end.

Most companies can deduct up to £1 million of qualifying plant and machinery each year through the Annual Investment Allowance, and full expensing is available on qualifying new main-rate equipment.