A company's tax burden is not set by the rate alone. It is set by how transactions are structured and how completely they are documented. Real expenses without the documents the law requires are disallowed, which makes taxable profit higher than actual profit.
Conversely, many reliefs the law provides must be claimed or notified within a period. A business that does not know simply loses them, with no one having to dispute anything.
We handle the routine filings, the structuring done in advance, and the representations made when an assessment is opened.
The taxes a business meets regularly
- Corporate income tax, filed half-yearly and annually on profit adjusted to tax rules.
- VAT, filed monthly once registered — including months with no transactions.
- Withholding tax, which the payer must deduct, remit and certify to the recipient.
- Personal income tax for directors and employees.
- Specific business tax and stamp duty on certain transactions.
What assessments focus on
- Expenses with no support, or tax invoices missing required particulars.
- Expenses personal to a director: travel, entertainment and vehicle costs.
- Money taken out by a director without being recorded as a loan, salary or dividend.
- Cash income that never reached the books.
- Pricing on transactions between affiliates, which must be comparable to market.
- Use of carried-forward losses, which is subject to time conditions.
If you receive a notice to attend
- Establish whether it is a request for information or a full assessment — the procedure and the taxpayer's rights differ.
- Assemble every document listed before the appointment.
- Take advice before giving statements, which are recorded and relied on at the next stage.
- If you disagree with an assessment, appeal within the period allowed; once it passes the assessment can no longer be challenged.
This page is general information, not tax advice for your business. Rates, reliefs and deadlines change; tell us the transaction and the applicable rules can be checked.