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How to pay your corporation tax

HMRC still deliver a notice to file a corporation tax return within 9 months of a company’s year end.

When a company’s corporation tax return is submitted, HMRC no longer send a statement confirming how to make payment as the assumption is that company owners will operate their own digital account.  If a payment is late, HMRC will  send a statement but obviously interest on late payment has already then been incurred.

If your company is a client of Lothian Accounting, your tax approval letter that is sent with the corporation tax return for you to review and sign contains details of how to pay corporation tax electronically and what payment reference to use.

You do have the option to set up your own digital account and you can then pay your corporation tax liability directly from there.  Please click on the link to set up an online HMRC account: Set up an online HMRC account

You can then register for different services -payroll, VAT and also corporation tax once your account is set up: How to register for HMRC online services

If you have any questions, please call or drop me an email.