Bookkeeping & Accounting: We can relieve you and your staff of an enormous burden by taking care of all your bookkeeping and accounting needs, including the preparation of your annual accounts. You can choose as many of our services as you need. Here's what we offer: Accounting Debtor chasing and management Supplier reconciliations and payments Processing cheques paid and amounts received Monthly bank reconciliations Full annual accounts preparation and submission as necessary Annual returns for limited companies Filing accounts with Companies House We are charging a £150.00 fee for Bookkeeping & Accounting (40 invoices per month)
Payroll
£ 80.00
Payroll: Administering your payroll can be time consuming and burdensome, diverting energy and resources from the core activities of your business. We have dedicated staff who can relieve you of this burden by providing a comprehensive and confidential payroll service, including: Customised payslips Administration of PAYE, national insurance, statutory sick pay, statutory maternity pay, etc Completion of statutory forms, including year end returns, to issue to your employees and submit to the Inland Revenue Summaries and analyses of staff costs Administration of pension schemes Payroll reporting individually designed to suit the business needs Preparation and submission of all year end reports We are charging a £80.00 fee for Payroll preparation (5 Employees)
VAT Preparation
£ 70.00
VAT: Value added tax is one of the most complex and onerous tax regimes imposed on business - so complex that many businesses inadvertently overpay or underpay VAT. We provide an efficient cost effective VAT service, which includes: Assistance with VAT registration Advice on VAT planning and administration Use of the most appropriate scheme VAT control and reconciliation Help with completing VAT returns Planning to minimise future problems with Customs and Excise Negotiating with Customs and Excise in disputes and representing you at VAT tribunals SFiling accounts with Companies House We are charging a £70.00 fee for VAT Preparation (1-20 invoices per month)
WHAT IS CORPORATION TAX - CORPORATION TAX RATES 2005/6
Corporation tax is the tax on the profits of a limited company. The tax is determined at the end of each company's financial year and is due for payment to the Inland Revenue within 9 months of the year end.
For Corporation Tax, companies have to work out their own tax liability, pay their tax without prior assessment by the Inland Revenue and are liable to penalties if they do not deliver a return by the statutory filing date, normally 12 months after the end of the accounting period.
Our Service
We provide a fast online service for company registration, LTD company formation, and business incorporation in England, Wales and Scotland. When first setting-up a business there are many issues to consider. You need to decide whether or not to incorporate your business, and to choose a structure for your business. There are several types of legal business entities which you can choose to operate as. For more information on these choices, follow the links below. We advise that professional legal and financial advice is obtained before a final choice of business entity is made.
Coddan is a leading service provider in the field of English, Scottish and Irish company formation and company registration. We can help you in starting a business in England & Wales Scotland and Northern Ireland. Over 95% of our companies are incorporated within 6 hours. The electronic submission of information enables a fast company start-up satisfying all of the required legal formalities: a director, a secretary, a registered office and shareholders. Our electronic filing software has been approved by Companies House.
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ACCOUNTING PERIOD
An accounting period cannot be more than 12 months. If a company prepares accounts for more than 12 months, the profits are apportioned between the first 12 months and the remainder. Non-resident companies may be subject to CT where they trade in the UK through a permanent establishment. Accounting period: A company incorporated in the UK is treated as UK resident. A non-UK incorporated company is treated as resident in the UK if its central management and control is exercised in the United Kingdom. The amounts of income and capital gains are basically determined by the tax rules that apply to individuals. For example, trading profits may be reduced by allowable expenditure incurred wholly and exclusively for the trade. However, companies are subject to many special rules.
CAPITAL GAINS
A company's capital gains are subject to CT at the normal rates. Companies continue to receive indexation relief on gains and do not receive taper relief. Capital gains may be offset by capital losses of the same accounting period or capital losses brought forward from previous periods. Roll-over relief is available, but not reinvestment relief. Companies are subject to different identification rules from individuals for disposals of shares and securities.
RATES OF TAX
The main rate of CT is 30%. This is charged on the whole of profits where they exceed £1,500,000, and in all cases for close investment-holding companies. The small companies rate of 19% is charged on the first £300,000 of profits where profits are between £50,000 and £1,500,000.
Profits between the lower and upper profit thresholds (£300,000-£1,500,000), are in effect charged at a marginal rate of tax of 32.75%. Until 31 March 2006, a company with taxable profits up to £50,000 was charged at 0% on the first ?10,000 and an effective marginal rate of 23.75% on the next £40,000. Profits equal to dividends paid in the period to non-corporate shareholders were charged at 19%. The remaining profits are charged at the underlying rate. This is the average rate that would apply if all the profits were taxed at 0% on the first £10,000 and 23.75% on the next £40,000.
Where a company has associated companies, all the rate thresholds are divided by the number of associated companies plus one. For example, a company with three associated companies is taxed at 19% on profits between £12,500 (£50,000 divided by four) and £75,000 (£300,000 divided by four). Associated companies are broadly companies under common control.
COMPANY LOSSES
A company's trading losses can normally be set against: Income and gains of the same accounting period. Income and gains of the previous year. Trading profits from the same trade in future years.
DIVIDENDS, DISTRIBUTIONS AND ADVANCE CORPORATION TAX (ACT)
Companies do not have to pay tax at the time they pay a dividend. Corporation tax is paid at the normal time on the company's taxable profits without any deduction for dividends paid. A shareholder receives the dividend with an accompanying tax credit equal to 10% of the dividend plus tax credit. The tax credit is equivalent to the basic rate of income tax on dividends. Companies pay no tax on dividends received. Companies that paid dividends before 6 April 1999 had to pay advance corporation tax (ACT) of one-quarter of the dividend. The ACT could usually be set against a company's CT liability. The maximum ACT that could be offset was an amount equal to 20% of the company's chargeable profits, and surplus ACT could be carried back against profits of up to the previous six years. Any surplus ACT at 5 April 1999 that was not relieved in this way may be carried forward to periods after 5 April 1999 and set against CT after deducting "shadow ACT". Shadow ACT is equal to one-quarter of any dividends paid in the period, ie the ACT that would have been paid if the dividend had been paid before 6April 1999.
IMPORTANT NOTE
Our corporate, tax and securities lawyers have extensive experience in the issues involved in all type of business entities, including corporations, private limited companies, public companies, limited liability companies, limited partnerships, general partnerships, limited liability partnerships and professional associations. Our lawyers advise clients in the choice of entity to utilize for any given business venture. Such advice includes the tax advantages of the respective entities as well as the non-tax or business issues involved in each type of entity.
Our lawyers continue their representation of such entities on an ongoing basis and advise the entity and its owners regarding the business issues which arise from time to time (such as labor and employment issues, tax issues, negotiating contracts, securities issues and licensing and regulatory matters). Our lawyers also represent many entities which are involved in negotiating mergers with other entities or acquisitions of other entities. This representation includes advising the business and the owners on the purchase or sale of a business and on tax-free mergers or other reorganizations of business entities, as well as structuring divisions of an existing entity into two or more new entities.
We structure a variety of commercial lending transactions including corporate loans, real estate development loans, asset based loans, agri-business loans, floor plans and home builder lines of credit. Members of our firm advise financial institution clients and their corporate counsel on a daily basis with respect to general lending issues including those relating to UK and Cyprus documentary stamp and intangible taxes, bankruptcy and creditors' rights, environmental concerns and problem loans. We have extensive experience in complex loan workouts.
The firm's Trusts and Estates attorneys specialize in estate and trust administration matters and the development of estate tax planning strategies designed to help our clients achieve maximum savings in income, estate, gift and generation skipping taxes. Our Trusts and Estates attorneys handle the traditional aspects of personal estate planning, such as the preparation of revocable trusts, wills and irrevocable trusts, and also deal with all aspects of tax controversies with the Internal Revenue Service dealing with estate, gift and generation skipping tax, including filing estate and gift tax returns, representing our clients in audits of those returns, and appeals to the IR and courts of proposed tax deficiencies.
Our attorneys monitor the latest developments in both tax and non-tax laws affecting estates and trusts and lecture extensively on those subjects around the country to numerous professional groups and organizations. The firm's Trust and Estate attorneys are proficient in analyzing and implementing the latest techniques to reduce estate and gift taxes, including, for example, family limited partnerships, GRATS and charitable remainder and lead trusts.
The firm's Trusts and Estates attorneys also advise our clients on the income, gift and estate tax consequences of charitable gifts; handle the negotiation and preparation of marital agreements; provide asset protection planning for individuals; and have extensive experience in the establishment of private and publicly supported charitable organizations, international estate planning and estate and trust litigation, as well as post-mortem tax planning. We recognize that a client's estate planning needs and matters that arise in the course of estate planning and administration frequently require expertise in other areas of the law, and we work closely with the firm's attorneys in other practice areas, including litigation, real estate, corporate and tax, to provide our clients with thorough legal advice.
Live Help: Live Help is a real time "chat" feature which enables you to interact with a customer service representative without a phone call. Get answers to your questions while using our website. Clicking the "Live Help" button will start an on-line session with one of our representatives. Live Help is currently available during normal business hours. Outside of the above opening hours, our business center will be closed. When you click on the button, you will see an e-mail form that will allow you to send us a mail with your questions. Live Help is free! There are no hidden fees. We offer the service as a courtesy to our website visitors.
Dear visitors, while having a chat session with a customer, we are frequently requested to give a piece of advice on tax planning or business structuring. We would like to inform you that it is against our principles to provide online advice pertaining to these issues. The points that may be covered during a session include service description, package or service price, navigation at our website, ways of making an order, methods of payment etc. Yet, if you wish us to provide you with advice on tax or business structuring, you should be aware that this service is chargeable.
If you have any questions please E-Mail or call us: 0800 081 1510 or +44 (0) 207 637 3881, fax: +44 20 7681 3318.
Tax Planning
UK: Corporation Tax
£ 150.00
Bookkeeping & Accounting: We can relieve you and your staff of an enormous burden by taking care of all your bookkeeping and accounting needs, including the preparation of your annual accounts.
