Another name for a business tax return is a Corporation tax return.
This is needed when you form a limited company.
In order to submit a Corporation tax return you have to have your limited company accounts completed so you know how much tax to pay HMRC.
At the end of your financial year we will do a set of limited company accounts which shows you how much profit you have made, what assets & liabilities you have and the initial investment you have made and how much the business owes you back and ultimately the tax you need to pay.
Corporation Tax is currently at 19% of your profits.
At this point if you have made a healthy profit each Director can invest up to £40,000 a year into a pension and this reduces your corporation tax bill.
Limited company accounts are filed to companies house alongside a Corporation Tax Return to HMRC.
