• info@hhim.co.uk
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Chartered Accounting & Tax Services

0333 224 9380

Chartered Accounting
& Tax Services

0333 223 9380

CORPORATION TAX

Corporation tax returns are a legal requirement for all UK companies registered with Companies House. Tax is levied based on your calculation of tax-adjusted trading profit over your accounting period.

Handling corporation tax calculations is best entrusted to qualified accountants. At H.HIM Chartered Accounting & Tax Services, our expertise ensures accurate allowance claims and minimisation of your tax liability.

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Understanding Corporation Tax Adjustments

Tax-Adjusted Trading Profits: Corporation Tax is based on your business’s tax-adjusted trading profits, calculated by deducting annual expenditure from revenue and making necessary adjustments for taxable profit.

Key Corporation Tax Adjustments: Ensure tax efficiency with precise filing of allowances and reliefs:

Capital Allowances: Deduct expenses for machinery, equipment, and vehicles, including depreciation.

Annual Investment Allowance (AIA): Applies to plant, machinery, and certain building alterations.

Chargeable Gains: Calculate profits from asset sales, adjusting for costs and inflation.

Corporation Tax Losses: Carry forward losses to offset future profits, particularly beneficial for startups.

Research and Development (R&D) Relief: Supports innovative science and technology projects.

Creative Sector Relief: Available for theatre, film, TV, animation, and video game industries.

Optimise your Corporation Tax strategy with H.HIM Chartered Accounting & Tax Services. Contact us for expert guidance on compliance and maximising savings.

Exclusions from Corporation Tax Relief: Certain items do not qualify for Corporation Tax relief:

  • Depreciation of assets
  • Entertainment expenses for clients and suppliers
  • Adjustments to general provisions
  • Remuneration not paid within 9 months of the period end.

Expert advice from H.HIM Chartered Accounting & Tax Services can navigate these complexities effectively.

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Testimonials

“I came to H.Him when I was looking for a Budget Planner to assist me with my monthly targets and KPIs. From start to finish I received a thorough and detailed service which really helped get my Business back on track. I’m very grateful and would highly recommend H.Him to anyone looking for a reliable, fast and trustworthy Financial Consultant”
David Moore
“As part of my Funding Application I needed to make sure that my financial report and forecast were giving my application the bet chances for approval. H.Him went above and beyond to listen to my needs and requirements and put together all my necessary financial information in record speed so I was able to submit my application ahead of the deadline. Thanks to H.Him I was approved and given the funding I applied for! Couldn’t be happier, thank you!”
LISA NELSON
“Financial Review by H.HIM helped me to understand key issues/reasons related to my monthly overspends. Team also provided expert advice and solution to my business problems so that I can make informed decisions and control expenditures”
MO ALI
"Working with H-HIM was a great experience. The team was professional, knowledgeable, and extremely helpful. They took the time to listen to our needs and provided the best solutions for our queries. We now have a well-planned budget that meets our goals and objectives and have saved a lot of time and money. I highly recommend them!"
David Shepherd
"I am very pleased with the services we have received from H-HIM. The team is incredibly knowledgeable and patient when it comes to helping us develop our budget. We've been able to make better-informed decisions, derived from data-driven insights based on the advice of the professionals at H-HIM. We look forward to working with them again in the near future."
Sarah Appleby
"It was a great pleasure to work with H-HIM. They made the daunting task of budgeting much more bearable, providing detailed advice on where to cut costs, how to write up invoices, and working around it. They also have great customer service, which is a much-needed plus! I highly recommend using them for all your budgeting needs."
Bosun Mbawanku
"Due to the financial guidance provided by H.HIM Glamam Ltd was able to successfully consider the financial position of the business and ascertain future business planning accurately and efficiently."
Glamam Ltd
"H-HIM have been excellent for our social enterprise. They helped prepare all our budgets which resulted in successful grant and tender proposals. I cannot recommend them highly enough. "
Syed Hassan, Bradford Asian Radio
"We have been using H-HIM to prepare budgets for funding proposals for our clients which needed detailed specialisms and expertise. They have been consistently professional, producing high quality budgets which impressed funding bodies and importantly have delivered results for our clients. "
The Non Profits Academy
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Chartered Accounting
& Tax Services

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Our contact details

124 City Road,
London,
EC1V 2NX

  • info@hhim.co.uk
  • +44 (0) 333 224 9380

H.HIM LTD is registered in England & Wales under company number 13769375. H.HIM LTD are Chartered Accountants, providing Accounting and Tax services.

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