Want to rid yourself of the end-of-year tax panic? 

Statutory Accounts

Short notice payments, complex regulations and maddening queries about what needs to be disclosed can be a nightmare.

Our team can assist with the efficient and pro-active submission of your statutory accounts so that worrying about tax is a thing of the past. Helping you to:

  • Get ahead on end of year accounts
  • Assist you to plan effectively for tax payments
  • Oversee disclosures and maximise profit
  • Offer a bespoke plan tailored to your business

By pro-actively submitting end-of-year accounts on your behalf well in advance, you can rest easy knowing that you’re able to plan for tax payments with plenty of notice.

Carefully tailored advice on disclosures will effectively ensure compliance while maximising profit.

Let the team at GLX help you get ahead.

Corporation Tax 

Corporation tax can be a major business cost, so planning to minimise your tax liabilities is of paramount importance.

Using our wealth of expertise, we can support you in navigating the minefield of government regulation, ensuring your business remains fully compliant whilst allowing you to benefit from increased savings.

Business Tax Planning 

Mitigating tax liability is a game changer for your business. Through careful consideration of your business processes and tax planning strategy, we can help save time and money.

We work tirelessly with our clients to produce a bespoke tax strategy to maximise your tax relief.

Our guidance can help to avoid oversight penalties, reduce your tax liability and increase the efficiency of your business.

We know how hard you work for your profit and our team of experts can help you put more of it back into your business.

Frequently asked questions…

How can professional accounts preparation services benefit my company?

Professional accounts preparation services ensure accuracy and compliance with accounting standards. They provide reliable financial statements, supporting informed decision-making and meeting the requirements of regulatory bodies and potential investors.

Outsourcing accounts preparation and company tax services save your company time and resources. It allows you to focus on core business activities while ensuring that financial reporting and tax obligations are handled by professionals, reducing the risk of errors and non-compliance.

Accounts preparation services often include financial analysis and forecasting. They use historical financial data to help you understand your company’s financial trends and make informed decisions about its future.

How and where do I pay my corporation tax?

Your corporation tax needs to be paid to HMRC.

There are a variety of ways in which you can pay HMRC, all of which can be found in detail here: · https://www.gov.uk/pay-corporation-tax

For most businesses, we simply recommend a simple bank transfer, or which the bank details are as follows:

Bank Account: HMRC Cumbernauld

Account Number: 12001039

Sort Code: 083210

In terms of a payment reference, this needs to be accurate to ensure HMRC knows where to allocate the payment to your account. This will comprise of a 17-character reference, of which the first 10 are your company’s UTR and the final 7 are a very specific set of characters. Please contact your client manager at GLX and we will ensure you pay HMRC correctly.

When is the deadline for filing company accounts and a company tax return?

For limited companies, the following deadlines are applicable:

  • Company accounts must be filed within 9 months of your company’s financial year-end
  • Your company must make payment of corporation tax within 9 months and a day of your company’s financial year-end.
  • Your company must file its company corporation tax return within 12 months of your company’s financial year-end.

As an example, if your company has a year-end of the 31st March 2024, the applicable dates would be as follows:

  • Company accounts would be due to Companies House by 31st December 2024
  • Your company must pay its corporation tax due by 1st January 2025
  • Your company must file its corporation tax return by 31st March 2025. 

At GLX, we would ideally aim to prepare your statutory accounts within 3 months of your yearend. In the example above this would be 30th June. This gives you sufficient time to plan and prepare for your corporation tax bill rather than this being filed in December and this being short notice and a surprise bill.

What tax planning strategies can company tax services provide to minimise tax liabilities?

As part of preparing your company accounts and tax return, we will take care of the compliance side of things in ensuring these are delivered to the appropriate places, in the right format and tick all of these boxes. We will also review your accounts to identify core areas to minimise the tax you and your company pay.

This would involve strategic planning to identify eligible deductions utilising available reliefs and allowances along with also reviewing overall tax-efficient strategies to optimise your financial position.

We have common areas which are key to specific industries and based on our experience we can help implement them. 

However, this always needs tailoring to your specific circumstances. This might involve looking at efficient ways to extract money from your business bank account so this is in your pocket, or alternatively this might look at the best ways of purchasing a new vehicle for example.

“GLX respond quickly with strong advice and nothing seems too much trouble.”

“Alongside efficient accountancy, the advisory service I receive has proved extremely helpful. ”

Mark P

Contact us

Let’s talk!

Our team of expert specialists are here and ready to help you take your business accounting to the next level.