At One Click Accountant, we can provide you with accurate, valuable and in-depth advice on reducing your tax liabilities whilst remaining wholly compliant with HMRC legislation. The corporation tax rate for businesses operating in the UK is set at 19% in 2020. According to HMRC, the Corporation Tax main rate for the financial year 2020 will have effect from 1 April 2020 to 31 March 2021. The charge to Corporation Tax and the main rate will also be set at 19% for the financial year beginning 1 April 2021.
Companies in the UK are tasked with estimating their own tax liabilities and paying them by the due date. The due date is nine months and a day after the end of a company’s accounting period in most cases. Tax returns must be filed with HMRC within a year of your company’s year-end.