What do preparing the accounts of a limited company and the corporation tax return have in common? It's no joke - file them late and the authorities will raise automatic penalty notices.

If you are a director of a limited company it is your responsibility to make sure the contents of the accounts and the corporation tax return are correct - you can be liable to personal penalties if you get it wrong. When the rules change regularly and without you being notified what can you do to reduce the risk?

We believe that it makes sense to appoint a professional firm such as Collett & Co Chartered Accountants to help you fulfil your obligations. We can help you plan ahead so that the year-end accounts are prepared and the corporation tax position is known in advance of the due dates. We can help prepare any claims that may be required to reduce the tax position should there be any trading losses, group arrangements, etc. and can generally ensure that the company's compliance affairs are maintained in good order.

For companies where shareholders are considering an exit route we can advise on capital gains tax implications and alternative strategies that might reduce the level of taxation.

Through our associate links we can also help set up employee incentive schemes, corporate and stakeholder pension plans, and other tax effective schemes.

Please click on the links below for further information relating to this subject. These files are pdf files and will require you to have Adobe Acrobat Reader installed.

•  Corporation tax rates

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Meet your obligations as a director in good time, Exploit All Available Tax Incentives - contact Collett & Co Chartered Accountants