SoS (606) Corporation Tax

SCHEDULE OF SERVICES (606) CORPORATION TAX COMPLIANCE

This schedule should be read alongside your letter of engagement (LoE) and the (300) Standard Terms & Conditions.

Recurring Compliance Work

We will prepare the company’s corporation tax computation and supporting schedules from the accounts, information, and explanations provided to us.

We will prepare the company’s Corporation Tax Return (CT600). After obtaining written approval from the nominated director, we will submit it to HMRC.

For the purpose of filing the CT600, we will apply XBRL tags to the accounts using commercial software as we consider appropriate for iXBRL submission via the relevant HMRC gateway. Where necessary, we will manually amend or apply tags where automatic tagging has not been applied or is inappropriate. Copies of the tagged iXBRL file are available on request.

We will tell you how much corporation tax the company should pay and when. Where you ask us to, we will advise on the interest and penalty implications of late payment. Where taxable losses arise, we will advise on the options available and, where appropriate, initiate repayment claims.

We will advise you of any instalment payment obligations and the dates payments are due. We will calculate instalment amounts on the basis of information you supply by the date agreed.

We will advise on possible tax return-related claims and elections arising from the information you

provide. Where you ask us to, we will make those claims and elections in the form required by HMRC.

Ad Hoc and Advisory Work

Where a query requires work or time spent outside the scope of your recurring compliance, we will let you know and agree a fee with you before proceeding where practicable. Where prior agreement is not practicable, we reserve the right to charge for the work or time involved and will notify you as soon as reasonably possible.

Ad hoc queries by, for example, telephone or email are not part of routine compliance and may result in additional fees. Where possible, we will discuss and agree any additional fees in advance, but this is not always practicable and we reserve the right to charge for such work.

Where you ask us to, we will also provide such other taxation and advisory services as we agree from time to time. These services are subject to the terms of your LoE and the (300) Standard Terms & Conditions, unless we issue a separate letter of engagement. An additional fee may apply.

Examples of this work include:

advising on ad hoc transactions and queries, and calculating any related tax liabilities
advising on double tax relief where applicable
advising on corporation tax due on loans made by the company to directors, shareholders, or their associates, and calculating amounts payable or repayable when loans are repaid
advising on and preparing research and development (R&D) tax relief claims and enhanced expenditure claims. Since August 2023, companies making a first-time R&D claim (or claiming after a gap of three or more years) must notify HMRC in advance using the claim notification form — if this notification is missed, the claim cannot be made. Please raise any potential R&D activity with us as early as possible
advising on and preparing capital allowance claims relating to structures and buildings
dealing with any HMRC enquiry into the company’s tax return or tax affairs
preparing amended returns and corresponding with HMRC as necessary.

Your Responsibilities

You are legally responsible for ensuring the CT600 is correct and complete, for filing it by the due date, and for paying corporation tax on time. Failure to meet these obligations may result in penalties and interest. HMRC operates a points-based penalty regime for late CT600 filings — points accumulate for each missed filing deadline and a financial penalty is charged when a threshold is reached.

Legal responsibility for approving the CT600 cannot be delegated to us. The nominated director agrees to check that the return we have prepared is complete and accurate before approving it.

To enable us to carry out our work, you agree:

to provide us with approved accounts for the company. Where accounts are not supplied in a format compatible with our iXBRL software, we will convert the figures, which may be subject to an additional fee agreed with you in advance
that all returns are made on the basis of full disclosure of all sources of income, charges, allowances, and capital transactions
to provide all information necessary for dealing with the company’s tax affairs — we will rely on the information and documents you give us being true, correct, and complete and will not audit them
to authorise us to approach such third parties as may be appropriate for information we consider necessary
to provide us with information in sufficient time for the CT600 to be completed and filed within 9 months of the company’s year-end. To achieve this, we need all relevant information within 3 months of the year-end. Where we agree to work to a shorter timescale, an additional fee may apply
to provide information relevant to any instalment payment obligation at least four weeks before each instalment due date, including trading profits and other taxable activities to date and estimates to the year-end
to notify us of any loans or advances made to directors, shareholders, or their associates during an accounting period, and of any repayments or write-offs, within three months of the end of the relevant accounting period
to notify us promptly of any correspondence or queries received from Companies House. Under the Economic Crime and Corporate Transparency Act 2023 (ECCTA), Companies House has enhanced powers to query, reject, or remove filings and to require identity verification from directors and persons with significant control. You are responsible for completing any identity verification required and for ensuring we have sufficient time to respond to any Companies House queries within the required timescale
to have paid our fee in full before we submit your return to HMRC. Where work is complete but our fee remains unpaid, we reserve the right to withhold submission.

You will keep us informed of material changes in your circumstances that could affect the company’s tax position. If you are unsure whether a change is material, please let us know.

Where you want us to deal with HMRC communications, please forward all correspondence to us promptly. HMRC is not obliged to copy us in on communications sent directly to you, so it is essential that you pass these to us in time for us to act within any statutory time limits.

As part of our normal procedures, we may ask you to provide written confirmation of any oral information and explanations given to us during the course of our work.

Limitation of Liability

Our services are subject to the limitations on our liability set out in your letter of engagement (LoE) and in the (300) Standard Terms & Conditions. These are important provisions and you should read them carefully.