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All companies are required to file an annual tax return at the end of the year. Many small businesses tend to struggle with getting these returns completed at the end of the year. If you are a business owner, you can imagine it can be quite stressful to run your business, do the day-to-day work and also handle financial compliance.
Once the end of the tax year comes near, managers and owners of SME’s have to make sacrifices in order to attempt to complete the Corporation Tax & Self-Assessment Tax Return.
In many cases, it takes time and experience to file these efficiently. Many businesses in Southend pay too much money towards the taxman each year, due to a lack of accountancy knowledge. Or even worse, fail to file the required documents, which can lead to large fines.
At TFMC Southend, we help with corporation tax returns and self-assessment tax returns.
WHEN IS THE CORPORATE TAX & SELF-ASSESSMENT TAX RETURN DEADLINE?
For the self-assessment tax return, you have until the 31st of January to return it. In addition to that, you will also be asked to submit a corporate tax return. The Self-Assessment Tax return is often done by small businesses and freelancers as a way to report their income for that year.
Corporate Tax however, is more detailed – and used as a tax return for larger, limited companies. There is not a universal deadline for filing your CT600 corporation tax return; instead the date is unique to your company. You must file your return within 12 months of the end of the accounting period the return covers.
The deadline for filing your tax return is not the same as the deadline for paying any corporation tax which is due. Instead this must be paid within 9 months and one day following the end of the accounting period for those businesses with taxable profits under £1.5 million. This means you could in theory pay your corporation tax bill before filing the associated tax return; however, it is often the case that both of these things are done at the same time.
The Financial Management Centre Southend team works closely with you and your business to help ensure you encounter no compliance issue with your finances. Make an appointment today with one of our advisors, and we will be able to give you more information about all of our services, ranging from filing tax returns, to accounting, bookkeeping and management accounts advice.
Our Plans
All our packages are fully customisable and we offer a fixed price monthly payment schedule - no surprises! This gives you certainty and allows you to spread the cost across the year.
Essential
From
£75
Per month*
Our essential package is suited to all businesses who are looking to ensure compliance with reporting requirements.
Professional
From
£300
Per month*
Take away the burden of managing finances and start focusing more on your business by investing in our professional package
Ultimate
From
£750
Per month*
Completely outsource your accounts whilst still maintaining a close eye on company performance with our ultimate package
* Fees vary depending on the size and need of the client business. Packages can be tailored so please contact us to discuss your requirements.
How can we help you
We recognise that not all businesses are the same and will be at different stages of their development. We offer a wide range of services to small-to-medium-sized businesses.
Startup
Finding the right accountant to help you look after your new business's financial side is a key decision that could save you a lot of time and money.
Learn MoreSole Trader
Sole traders are independent business people with drive and ambition. It is important that you use a dedicated accountant who understands that.
Learn MoreLimited Company
Whether you are a small-to-medium-sized business or need a fully dedicated accountant to help meet the challenges faced by limited companies, we can help.
Learn MorePartnerships
Partnerships bring certain complexities, especially when setting up with family or friends. We understand partnerships and help you grow the business together.
Learn More