Sheraton Veranda Submitted 2016-10-25 23:00:03 Setting up a company is difficult enough for some people Phillip Lindsay Jersey , but things only become more difficult when having to calculate the company tax return and this happens every financial year. Aside from possible mistakes which lead to inexact calculations, business owners should aim to avoid late submissions. Working with deadlines is a pain, but delays cost. To avoid penalties, ensure you benefit from tax planning with a qualified and certified accountant. You are better off hiring an expert for your tax calculations than saving and doing it yourself.
The accountant will do two things for you. First Joe Flacco Jersey , they will compute profit and loss for corporation tax. This is not the same thing as the profits and losses shown on your annual accounts. Second, the accountant will compute your corporation tax bill. Do you understand these things? If not, you have to hire an expert to file your company tax return because things are a lot more complicated than this. By doing so, you will save yourself a lot of headaches! If you own a limited company Von Miller Jersey , you must file the two items mentioned above and the annual returns via the Companies House. Make it easy for yourself.
If you don鈥檛 have a Companies House account, you can just sign up. Once you get login details, it will be easier to file at any given time. Watch your deadlines closely. You have twelve months after the end of your accounting period to file your next tax return. If you miss the allowed period, you will surely be fined. It is the duty of your tax planning accountant to keep you posted though. Another thing to keep in mind is your corporate tax bill. It should be paid nine months and one day after your account period ends.
Again: respect your deadlines! If you do not John Elway Jersey , there will be harsh penalties for late filing. If you exceed filing your company tax return deadline by one day only, you will have to part with one hundred pounds. Furthermore, if you are late by three months, you will pay another 100 pounds. A six-month delay will attract an even harsher penalty