It is important that your business meets its Corporation Tax obligations, both to calculate and report liabilities correctly through the annual tax return and make accurate payments to HMRC by their due date. We work with many businesses alongside our audit, accounting and outsourcing teams to fulfil these requirements efficiently and in line with the annual accounting process.
The compliance process is not just a routine obligation, but an opportunity to provide additional support and assistance. We use our natural curiosity to identify other tax risks and potential efficiencies in your business and bring these to your attention. This is not just focussed on Corporation Tax matters, but also VAT, employment taxes and potential cross-border issues.
Large business support
Transfer Pricing
iXBRL conversion
Large business support
For many of our large business clients, including those where we are not auditors, we provide an even more holistic service. Many of our large clients benefit from using us as their outsourced tax function, giving the Finance Director confidence that their tax issues are being constantly monitored. Providing a dedicated team, led by a Corporation Tax Partner and Senior Manager, we assist in the following additional areas:
Regular tax provisioning support – Working monthly or quarterly (as required) with the finance function, in addition to the year end process, we assist groups by providing tax provisions for reporting purposes and respond to group auditor questions.
Senior Accounting Officer reporting and monitoring support – We work with the SAO and, where required, the internal audit function to give confidence that accounting processes are working as they should for tax purposes, to give robust certification to HMRC annually.
Tax strategy publication and CbCR reporting – For large multinational groups, we provide support for these annual declarations, both UK and globally. Here again, we look beyond the pure compliance requirements of these processes to bring risks and issues to your attention at the earliest opportunity.
Group tax efficiency – We assist groups in managing both their Corporate Interest Restriction calculation and reporting, and applying limitations regarding group loss reliefs, even where we only act for part of the UK group.
Transfer Pricing
At PKF, we believe that Transfer Pricing is an important and complex function that should be performed by tax specialists. We engage with market leading specialist providers in matters related to transfer pricing, using partners who share our values in order to provide the most robust outcomes for our clients.
iXBRL conversion
A necessary evil to support Corporation Tax returns, we will assist you in converting annual financial statements into the iXBRL format in a cost-efficient manner.
