Managing corporation tax liabilities

Managing Corporation Tax Liability

Since the rise in corporation tax in the Spring Budget, we’ve been talking to clients about how they can pay less corporation tax than they need to. Here are some of our recommendations for business owners to help them manage corporation tax liability:

1. Make pension contributions to yourself from your business.
2. Make sure you deduct all allowance expenses such as travelling expenses, marketing costs etc
3. Claim back all of your overheads such as staff costs, premiums and subscriptions
4. Claim Research & Development relief on any qualifying projects
5. Claim capital allowances on investments in plant, machinery or vehicles

Since this can be a complex area, please talk to your accountant about your tax liabilities.

We work with SMEs all over the UK and our accountants are business owners too, just like you. We’d love to work with you. You can find your nearest AIMS accountant here