quote for corporation tax

[laurag]

Hi,

My boyfriend is due to file his corporation tax return with HMRC in December and we have realised he doesn't have an accountant yet. After the ordeal that was filing his accounts with Companies House, I don't think it's wise for him to try it himself! I just wondered if any of the accountants on here could give us a quote or even a ballpark figure for doing this?

Thanks
Laura

 

[MyAccountantOnline]

I am sure you will get lots of accountants sending you a PM.

Just a thought - the Corporation tax (CT) liability which is effectively calculated from the CT tax return has to be done before the accounts are finalised. Therefore accounts shouldnt have gone to Companies House if the CT liability hasnt yet be calculated.

Your boyfriend may therefore need a little more than a CT return prepared.

 

[elaine@cheapaccounting]

Laura

Do shop around to find an accountant and have a look at Dan's sticky at the top of this forum.

Good luck - As already said I am not sure how the Companies House ones were filed without working out the CT.

 

[GaryMc]

Profit x 28% innit? You don't have to finalise the CT liability completely - a 'material' figure is all that is required and then you tidy it next year with prior year adjustments.Although it would be interesting to know how the figure for the accounts was calculated

 

[elaine@cheapaccounting]

Profit x 28% innit? You don't have to finalise the CT liability completely - a 'material' figure is all that is required and then you tidy it next year with prior year adjustments.Although it would be interesting to know how the figure for the accounts was calculated

Erh no actually.

Small rate is 19% then you have to look at allowable and disallowable expenditure etc

 

[GaryMc]

The smilies don't work! There was a big grin one after the innit? !!!For small companies, the addbacks and deductions make very little difference to the overall rate especially when you take any deferred tax in to account so the tax charge in the accounts can be calculated fairly easily. Approximating at 19% x profit will give you a material figure in 80%+ cases - at least it did in the majority of companies that I have worked on.

 

[elaine@cheapaccounting]

sorry I meant 21% (for small companies) before anyone picks me up on it

 

[laurag]

Thanks for all your replies. I'm not sure how the accounts were filed first either now - I think things have got a little bit mixed up! Hopefully once we've found an accountant we can sort it all out anyway.

Thanks
Laura

 

[PMA Accountants]

Hi Laura,

Ive sent you a PM

Thanks