UK Corporation Tax. Associated Company Rules. More, more, more tax

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When it comes to calculating corporation tax in the UK, understanding the concept of 'associated companies' is crucial. HMRC has specific rules and the CT600 form to navigate this maze. This video will break down the subject matter and highlight key areas you need to focus on.
Key Dates: The tax year for corporations usually runs from April 1 to March 31. If you're part of an associated group, you must file your CT600 form within 12 months after the end of your accounting period.
Tax Forms: The primary tax form to consider is the CT600, which will require supplemental schedules if you have associated companies. You may also need to consult the CT600A section.
Example 1: ABC Ltd and XYZ Ltd are associated companies, both generating profits. Because they are associated, their combined profits are considered for tax rates, affecting their liability. Understanding the CT600 form allows them to file correctly and perhaps even find tax-saving opportunities.
Example 2: DEF Ltd initially filed its CT600 without considering its associated company, GHI Ltd. Upon discovering this, they had to amend their filing, which affected their overall tax rate and resulted in late penalties. Don't make the same mistake; grasp how the CT600 works.
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[@stevegallagher18]

Hi, I am having to file a company tax return as I have a side gig selling On amazon FBA. Although it is a side hustle I still set up a limited company. My profits are very small and I am struggling to work out what figures to enter on balance sheet. As my profits are so small I am trying to do it myself. Is there anywhere I can get guidance which is some what simplified for a dummy like myself 😃

[@UK-Property-Tax-Accountants]

If you are using Xero or QuickBook, they will give you guidance of how to complete accounts on companies house

[@UK-Property-Tax-Accountants]

If you are using Xero or QuickBook, they will give you guidance of how to complete accounts on companies house

[@Ktd24.c]

Hello dear I want open my en UK ​@@UK-Property-Tax-Accountants

[@Ld-wk2qz]

What if one owns multiple companies but only own 5%-8% of shares of each of these companies ?

[@UK-Property-Tax-Accountants]

This is very complex area of taxation. Please book a call with your accountant as soon as you can 🙏

[@Ktd24.c]

I want open my company uk i want more information

[@UK-Property-Tax-Accountants]

Please book a tax consultation with me here for more information optimiseaccountantsltd.as.me/?appointmentType=21261585 With thanks 🙏