Being prepared for corporation tax

Being prepared for corporation tax

Inform HMRC That You Are Liable For Corporation Tax

It’s important that you are prepared for corporation tax, so here are some simple rules to abide by when it comes to running a limited company or organisation. First off, you need to tell HMRC that your organisation is liable for corporation tax.

Meet Your Corporation Tax Deadline & File Your Tax Return

Then, you will need to pay the full and correct amount of corporation tax on time. File your company’s tax return, too, as well as supporting documents.

There are a number of different requirements for all these deadlines, too, and if you do not meet these deadlines you could be charged interest or penalties by HMRC. So pay before you file, and get everything in order for the sake of simplicity.

Unlike other kinds of tax, where filing and payment deadlines are the same, it’s different with corporation tax. You need to pay everything before you file the return, so you can either pay by 9 months, or pay by 12 months.

Do You Need Help Filing Your Corporation Tax?

Stonehouse Accountants operate in the Peterborough, Kettering, Corby and Market Harborough area, call us now if you’re looking to change accountant or need a new one. 01733 26588.