Corporate Tax Solicitors

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Corporate Tax

Our specialist lawyers provide expert corporate tax advice to companies to make sure that they make the best decisions for their business.

We offer a range of corporate tax advice, including but not limited to tax planning and tax restructuring.

Read on to find out more about how we can help you manage corporate tax while still ensuring your business grows, or contact us today to get bespoke and tailored advice.

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What is corporate tax?

Corporate tax is paid by all businesses in the UK and is calculated based on their yearly profits in the same manner as income tax would be charged.

Companies do not receive tax-free allowances and businesses are required to submit an annual company tax return to HMRC.

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What types of corporate tax advice do you give?

We provide corporate tax advice for companies and shareholders on a number of different areas:

Assessing tax planning strategy

Tax can be a large burden for businesses, particularly small businesses and this is why tax planning is so important, as companies must take into consideration all tax costs, as well as any compliance fees or potential penalties.

We can ease the burden by offering specialist advice on how to minimise tax liabilities and set in place the most tax-efficient strategy.

To find out more information about our tax planning advice, contact us.

Capital Gains Tax Advice

Capital Gains Tax can occur when disposing of capital assets such as shares and businesses. It applies to the profits made upon selling an asset.

We can advise on eligible deductions and reliefs that may be applicable to you and how you may be able to pay a lower rate of CGT.

To find out more information about our capital gains tax advice, contact us.

Exit strategies for shareholders

If a shareholder of the business is only seeking a short term investment opportunity then it is important to have in place agreements and documentation regarding official exit strategy to avoid any future disputes.

We can advise on shareholder agreements and strategies that safeguard the interests of your business.

To find out more information about our exit strategy advice, contact us.

Transferring ownership of shares advice

Many businesses will be passed on to the next generation once a business owner retires and disputes can arise should an owner not wish to relinquish control before this date.

We can advise on the best approach to passing on shares in the most agreeable and tax-efficient method.

To find out more information about our transferring ownership of shares options, click here.

Residence advice

As the rules regarding residency in the UK have changed dramatically in recent times, our experts can help to guide you through current legislation to understand your business position and how to minimise tax costs.

We can offer advice regarding contracts of employment or changing impact of income tax and capital gains tax for example in preparation for relocation outside of the UK.

To find out more information about our residence advice, contact us.

Group structuring

There will be a number of factors that influence a business structure or a decision to restructure the business.

Spencer Churchill Solicitors can assess tax implications for your choice of business structure, provide an overview of any tax issues and offer a practical solution that is tax-friendly and aligns with your business goals.

To find out more information about our group structuring advice, contact us.

Why Choose Spencer Churchill for corporate tax advice?

At Spencer Churchill Solicitors, we understand that tax implications can create complexities for you and your company.

Our specialist team will work with you and use their wealth of experience to provide the most bespoke tax advice and pragmatic solutions tailored to your business needs.

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Corporate Tax

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    Corporate tax FAQs

    What is PAYE

    PAYE stands for ‘pay as you earn’ and refers to the income tax that is deducted from your salary.

    How does PAYE work when you’re self-employed?

    Self-employed individuals will usually fill out self-assessment tax return forms once a year and make payments to HMRC in January and July.

    There are some instances where you can pay tax through PAYE and it is done automatically.

    When do you have to register for VAT?

    Your business needs to register for VAT with HM Revenue and Customs (HMRC) if ‘taxable supplies’ exceed the VAT registration threshold.

    This applies to all commercial businesses.

    When is corporation tax due?

    Corporation tax is payable nine months after the company’s accounting period ends.