What taxes does a UK business need to pay?
Most UK businesses must pay Corporation Tax, VAT (if registered), PAYE for employees, and National Insurance. Additional taxes may apply depending on your industry and structure.
When do I need to file my Corporation Tax return?
Your Corporation Tax return (CT600) must be filed within 12 months of your accounting year-end, and any tax owed is usually due 9 months and 1 day after the year-end.
How can I legally reduce my business tax bill in the UK?
You can minimise tax through allowable expenses, capital allowances, optimal salary/dividend planning, R&D credits, and strategic tax planning tailored to your business.
Do healthcare practices have unique tax considerations?
Yes. Healthcare providers often deal with complex VAT rules, capital equipment allowances, practice expenses, and mixed-income structures that require specialist tax support.
What happens if my business files taxes late?
HMRC issues penalties for late filing or late payments. These increase over time, and repeated delays may prompt an investigation.
Do I need an accountant to manage business tax in the UK?
While not legally required, a specialist accountant helps ensure compliance, reduce liabilities, and avoid costly mistakes that arise from complex UK tax rules.
Can Kudos Accounting help with HMRC investigations?
Yes. We provide full support with enquiries, compliance checks, and resolving discrepancies to protect your business and ensure accurate reporting.
What records do UK businesses need to keep for tax purposes?
You must maintain accurate records of income, expenses, payroll, VAT, dividends, bank statements, invoices, and receipts for at least six years to stay compliant.