Corporate Income Tax

Welcome to Kress Cooper, your trusted provider of comprehensive corporate services in the UK. With our expertise and dedication, we offer a wide range of tailored solutions to support businesses in their growth and success.

At Kress Cooper, we understand the unique challenges faced by companies operating in the dynamic business landscape of the UK. Whether you are a startup, a small and medium-sized enterprise, or a multinational corporation, our team of experienced professionals is here to assist you at every step of your corporate journey.

Our suite of corporate services encompasses various areas, including company formation and registration, legal and compliance, accounting and bookkeeping, tax advisory, and much more. We have a deep understanding of the local regulations and procedures, ensuring that your business remains fully compliant while optimizing efficiency and minimizing risks.

One of our key strengths is our commitment to delivering personalized solutions that align with your specific business objectives. We take the time to listen and understand your unique requirements, enabling us to provide tailored strategies and solutions that meet your needs and drive growth.

At Kress Cooper, we pride ourselves on our professionalism, integrity, and unwavering dedication to client satisfaction. Our team combines extensive industry knowledge with a client-centric approach, ensuring that you receive the highest level of service and support throughout your engagement with us.

Discover the difference that Kress Cooper can make for your business. Contact us today to explore our comprehensive corporate services and embark on a successful journey towards achieving your business goals in the UK.

We are offering the following corporate tax services:

Corporate Tax Registration: Except the exempt business, and the businesses that are out of the scope of the UK Corporate Tax law, every company. Kress Cooper is helping businesses to get themselves registered for corporate tax purposes on timely basis. For the corporate tax registration, please feel free to contact at at info@kresscooper.com

Corporate Tax Training

• Provide customised training to employees on CT laws and regulations impacting the business and its operations.
• Provide training on the calculation of CT to key finance staff members.
• Providing deep insite about the CT law
• Guiding the team members how to implement the CT; and how to submit the return and process the payments.
• Making your staff very skilfull to comply the CT law very smoothly

Corporate Impact Assessment

• Review the impact of the following key aspects of the UK CT Law on the business:
• Tax Grouping Criteria
• Foreign tax credits, including withholding taxes (if applicable)
• Limitations on the deductibility of interest on financing arrangements
• Limitation of deductibility of other non-allowable expenses
• Conversion of opening balances at the arm’s length price
• Tax reliefs and carried forward tax losses
• Analyse the business’s current position and propose the revised structure/options to minimise the tax impact and identify the working capital gap.
• Perform System Impact analysis by reviewing the Group's ERP systems from a CT perspective and identifying any gaps in the current system that may adversely affect the entity’s ability to comply with the UK CT (if CT module is active).
• Provide CT Impact assessment report discussing key recommendations and restructuring options, including a high-level financial model to estimate the CT payable for the first tax period by converting accounting income into taxable income after considering the following key aspects:
• Accounting income
• Tax credit/exemptions
• Withholding tax
• Adjustment of income and expenses
• Cross-border transactions if any

Corporate Tax Implementation

• Adjusting opening balances by applying transfer pricing principles
• Deciding arm’s length price for the transactions between related parties and connected persons.
• Provide benchmarking analysis based on different TP methodologies (Comparable uncontrolled price method, Resale price method, Cost plus method, Transaction net margin method) in line with TP regulations and OECD guidelines.
• Assist in preparing the Local and Master file template as per TP documentation requirements.
• Support implementing changes in the company's legal structure as identified in Impact Assessment.
• Advice changes to the ERP system to align with CT compliance, like identification and classification of exempt entities, exempt income streams, and expenses as deductible or non-deductible.(Applicable where existing ERP system supports corporate tax module).
• Review of tax clauses (five key Contracts/Agreements) and propose additions/revisions to streamline them from a CT perspective.
• Assist in submitting a clarification and tax ruling for uncertain CT positions (if required).
• Provide a Tax Compliance manual detailing the CT return procedure steps and guidelines on administrative steps such as document retention, compliances and administrative penalties provided in CT law
• Advise on effective tax planning during the implementation period.

Corporate Tax Continuous Compliance

Advisory

• Provide advice on the applicability of CT laws.
• Provide updates on changes to the CT law, including cabinet decisions, circulars and guides.
• Obtain clarifications and advance tax rulings from HMRC on behalf of the client.

Compliance Services

• Assist with registering Corporate Tax with the HMRC by preparing and submitting the registration application and liaising with HMRC on any queries.
• Assist in preparing and filing the first corporate tax return and supporting schedules of the businesses.
• Assist in preparing CbCr notification and report (if applicable) for the same Financial year as the first return.

Coordination with FTA

• Kress Cooper will be coordinating with HMRC; and
• Providing you through support for the CT matters