Taxation
At Wecount Ltd we will support you with your compliance tasks and demystify all things tax!
Taxation Services
To find out more about how we can help you with Tax, please click on the services below
Corporation Tax
VAT
PAYE
CIS
Self Assessment
Corporation Tax
Limited Companies pay Corporation Tax, but can also apply to other types of organisations, such as members’ clubs, societies and associations. Sole Traders and partnerships do not pay Corporation Tax.
There are two current rates for UK Corporation Tax and a sliding scale between the two:
- Small Profits Rate: 19% for profits of £50,000 or less.
- Main Rate: 25% for profits above £250,000.
- Marginal Relief: For profits between £50,000 and £250,000, the effective rate is calculated using a sliding scale to reduce the tax burden.
A Corporation Tax Return can be submitted any time between the company year end date and the statutory filing date. This is typically the latest of 12 months after the year end, or 3 months after a notice to deliver a return – if in doubt, check! For companies with taxable profits of up to £1.5 million, the corporation tax must be paid by 9 months and 1 day after the the accounting year end. For example, if the accounting year end is 31st December, the corporation tax payment will be due by 1st October the following year. It’s important to note this separate deadline to pay any corporation tax due – this can often trip people up.
“I enjoy our end of year accounts meeting, it’s good to see how we’ve done and to talk about our plans for the year ahead”
VAT
Calculating your VAT return can be complex as there are different rates of VAT and some things are exempt completely. We can alleviate this burden and ensure your returns are submitted accurately and on time, ensuring you are paying the correct amount of VAT to HMRC and claiming back everything you are due. If registered, you must submit a VAT Return even if you have no VAT to pay or reclaim.
The current compulsory VAT registration threshold is £90,000 but some businesses choose to voluntarily register for VAT. If you are unsure whether you or your business needs to register for VAT, contact us to arrange a free consultation.
A VAT Return, along with any VAT payable to HMRC, is due one month and seven days after the quarter/month end. For example, the VAT return and payment for the quarter dated 1st April to 30th June would be due 7th August.
As a digital practice, we are well versed with Making Tax Digital (MTD) for VAT and ensure all of our returns are filed electronically using MTD compliant software.
“We were doing our own VAT returns and we thought we were doing fine – but we’d been using the wrong VAT codes and reclaiming some VAT that we shouldn’t have. Wecount Ltd helped us sort it all out and now do our VAT returns for us. Such a weight was lifted, we wish we’d done it from day one!”
PAYE
Payroll is often run on a weekly or monthly basis. The payroll process involves working out how much each staff member is due in pay before tax (e.g. fixed salary or hourly basis), then deducting Income Tax, National Insurance contributions and any other amounts such as student loans or workplace pensions.
The remainder, referred to as net pay, is then paid to the employee.
Employers must pay any amounts kept back from employees to the relevant parties, for example, tax and National Insurance contributions must be paid to HMRC, and pension contributions to the pension provider.
Employers have a duty to report to HMRC details of each “pay run”, electronically, on or before the day the employees are paid – this process is known as RTI (Real Time Information).
“Before each payday, we receive notice of how much we need to pay to HMRC in deductions, links to the HMRC payment web page and our payment reference – it’s all done for us”
CIS
The Construction Industry Scheme (CIS) was introduced to help minimise evasion in the construction industry, as well as to protect construction workers from being employed illegally and taken advantage of.
Contractors take money from payments to subcontractors in order to cover their tax and National Insurance contributions. CIS is not an extra tax. You should register for the Construction Industry Scheme (CIS) if you work for a contractor and you’re a sole trader, a limited company or a partnership/trust.
The contractor will apply the following rates;
Some of the tasks a Contractor must undertake are;
“Wecount Ltd takes care of my monthly CIS Contractor duties, so I can relax and get on with the day job”
Self Assessment
If you have income you need to report to HMRC in a self-assessment tax return, you need to register for self-assessment with HMRC.
The tax year runs 6th April to 5th April
If you need to submit a self-assessment tax year for yourself or for a partnership, the deadline for online submission, and for payment of any tax due, is 31st January after the end of the tax year.
Sometimes, you will be required to make payments on account towards your current year’s tax bill. You can find out more about the payment on account system on our Resources page.
Self Assessment can be a very stressful thing for individuals and people in self-employment to manage, along with everything else they have to do. If the idea of filling out tax returns fills you with dread, or you are already concerned about how you will find the time to do it, we can help.
Making Tax Digital for Income Tax was introduced in April 2026, meaning some taxpayers need to provide quarterly filings to HMRC as well as at the end of the year. Please see our Making Tax Digital (MTD) for Income Tax page for more information.
“Every year when I email Wecount Ltd to let them know I’ve got my records ready, I feel immediately less stressed! To know that someone I trust will prepare my tax return for me is genuinely amazing.”