Tax compliance reporting in the US & UK

Tax compliance reporting in the US

In the United States, companies and corporations owe taxes to the IRS. The basic tax report  form of a US entity C corp is form 1120, and it is required to be submitted by a company to the tax authority annually. A foreign company operating in the United States will be required to submit a similar report, F-1120 (where the letter F represents the word “foreign”).

In the United States, there are taxation tests for a company from different sources (federal, sales tax, state tax) and therefore, it is necessary to verify what the taxation is required by each of the methods, when there are situations, for example, in which a corporation will be exempt from taxation at the federal level, but will be required to be taxed at the governmental level. There are even situations in which American companies will be entitled to a full or significant exemption from taxation in light of the scope of activity and the amounts of income.

Tax compliance reporting in the Uk

ERB supports companies by managing their tax compliance and reporting requirements. Dealing with changing legislation, complex fiscal rules, increased restrictions on the use of tax attributes and penalty regimes for non-compliance can place a considerable burden on businesses.

The rules around UK tax residence and what constitutes a permanent establishment can be complex.

We treat tax compliance with the intelligence it demands. This is essential to give you confidence in the accuracy of the returns.

ERB provides a tax compliance solution that is easy to use through updated technology platforms that deliver tax efficiencies and comply with current tax practice. Our tax compliance approach is geared to the early preparation of tax returns with minimum bother.