As of the last update in January 2022, the standard Corporation Tax rate in the UK was 19% for the financial year 2021/2022. However, tax rates can change annually, so it’s essential to check the current rate with  HMRC.

The deadline for filing a Corporation Tax return in the UK typically falls 12 months after the end of a company’s accounting period. Payment of any tax owed is also due within this timeframe.

Yes, there are various tax credits and incentives available, such as research and development (R&D) relief, capital allowances, and patent box relief. These schemes are designed to encourage innovation and investment, allowing companies to reduce their tax liability.

Allowable expenses and deductions include costs directly related to the business, such as employee salaries, rent, utilities, and costs associated with generating profits. These deductions reduce the company’s taxable profits.

HHM offers a range of services to help businesses manage their Corporation Tax effectively. This includes determining optimal accounting periods, calculating taxable profits, filing Corporation Tax returns, and identifying opportunities for tax credits and reliefs. HHM’s tax experts provide guidance for compliance and tax efficiency.

Please note that tax regulations and rates may change, so it’s crucial to consult with tax professionals or HMRC for the most up-to-date information and advice tailored to your specific circumstances.

HHM’s fees for calculating company tax can vary depending on the complexity of your company’s financial situation, the services you require, and other specific factors. To get an accurate quote for HHM’s services related to company tax calculation, it’s best to directly contact HHM or visit their website to inquire about their pricing structure and request a customised quote tailored to your business’s needs. HHM typically provides transparent pricing based on the scope of work and services required, so you can get a clear understanding of the costs involved.