'Taxation and Accounting' - FAQ
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Taxation and Accounting

Here will be the FAQs and details related to 'Taxation and Accounting'.

What taxes do UK companies pay? +
Companies must pay Corporation Tax on their profits, and possibly VAT if applicable.
When do I need to register for VAT? +
You must register if your taxable turnover exceeds £90,000 in a 12-month period.
What is Corporation Tax? +
Corporation Tax is charged on company profits and must be filed annually.
Do I need an accountant? +
While not mandatory, an accountant ensures your filings are correct and tax-efficient.
When are Corporation Tax returns due? +
Your return is due 12 months after your accounting period ends, but payment is due earlier — 9 months and 1 day after.
What is a self-assessment tax return? +
Directors often need to file a personal tax return if they receive income outside PAYE.
Are there accounting software options? +
Yes, software like Xero, QuickBooks, and FreeAgent help manage your finances.
What is Making Tax Digital (MTD)? +
MTD requires VAT-registered businesses to keep digital records and submit VAT returns using compatible software.
Do dormant companies need to file accounts? +
Yes, dormant companies must still file annual accounts and a Confirmation Statement.
Can you help with company accounting services? +
Yes, we offer full bookkeeping, payroll, VAT, and tax filing services for businesses.

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