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Self Assessment Company Tax Return

Every company that is based in the UK is subject to Corporation Tax on their profits and are required to file a company tax return. Companies that are non-UK based can still be expected to pay Corporation Tax and file a company tax return, if the centre of management is based in the UK.

Corporation Tax Self Assessment (CTSA) was introduced in 1999. It completed the self assessment reforms introduced for individuals some years earlier by extending the principles of personal tax return to company tax. The key features are:

  • a company is required to pay the tax due in advance of filing a company tax return
  • a ‘process now, check later’ enquiry regime when the company tax return is submitted
  • the inclusion in the company tax return, and in a single self assessment, of the liabilities of close companies on loans and advances to shareholders and others, and of liabilities under Controlled Foreign Companies legislation
  • the requirement for companies to self assess by reference to transfer pricing legislation.  This is dependent on the size of the company.

Therefore it is very important that the directors and shareholders of a company appoint a tax accountant who can help ensure the company discloses everything it is required to do.

We will register your company with HMRC and use the Statutory Financial Statements that we have prepared for you to complete the Company Tax Return and File it on line on your behalf.