How to pay corporation tax with Taxscouts 

Picture this: paying your corporation tax is as easy as flipping a light switch. You can’t? Well, with us, it’s not just possible, it’s the new normal. 🙌

While you juggle customers and business strategies, our accredited accountants can handle your company tax return (CT600), leaving you to focus on what matters – running your business. 

In this blog, we’ll show you how simple it is to pay corporation tax using our platform. Spoiler alert 🚨 it’s a walk in the park! 

Do I need to file a corporate tax return?

Let’s cut to the chase, corporation tax (a.k.a. company tax) is what businesses pay on their annual profits. If you’ve got a limited company, filing a company tax return is a must to keep HMRC happy. 🤗

The rate at which you pay corporation tax depends on how much profit your company makes: 

Prefer a heads up? Quickly calculate how much you owe in corporation tax, if you’re earning money from a limited company, with our corporate tax calculator.

And here’s a not-so-fun fact, limited companies don’t get a tax-free personal allowance like sole traders. So, yeah, that’s a thing. 😬

How do I register for corporation tax? 

Before you can even think about paying any tax, you’ll need to register your company with Companies House and HMRC. This process also takes care of registering you for corporation tax so you can tick off both at once. ✅ Efficiency, right? 

To get the show on the road, you’ll need at least three pieces of personal information about yourself and your shareholders or guarantors. Think along the lines of:

• Your town of birth 🏠
• Mother’s maiden name
• Father’s first name
• Telephone number ☎️
• National Insurance number
• Passport number 

It’ll set you back £50 (payable by debit or credit card), but your company is usually registered within 24 hours. 🎉

You’ll also need to create a Government Gateway user ID and password for your company when you register. We recommend choosing something creative, but don’t go wild – ‘password123’ is still a terrible idea. 

Other ways to register 

If computers aren’t your thing, you can also register: 

The most important thing to remember? You’ll need to register for corporation tax within 3 months of starting your business! 

How to register by post 

You’ll need to fill out the IN01 form and send it to the address on the form. Postal applications take about 8 to 10 days and cost £71. Yes, that’s right, it’s cheaper to do it online! Oh, and you’ll need to pay by cheque. ✉️

And remember, we’re here to lend a helping hand with your company taxes. 🤝

Check out our service here! 

When is the corporation tax filing deadline? 

Mark your calendars! Your corporation tax bill is due nine months and one day after your accounting period ends. For example: 

If your financial year ended on 31 May 2024, you’d need to:

• File your annual accounts with companies house by 28 February 2025
• Pay any corporation tax due to HMRC (or tell them that no payment is due) by 1 March 2025
• File a company tax return for this financial year by 31 May 2025

If you think you might be late, call HMRC on 0300-200-3822 and see if you can set up a payment plan. 

HMRC has a whole toolbox of collection tactics, from seizing your assets to sending debt collectors, so we wouldn’t recommend ghosting them! 🥹

How does TaxScouts work?

Pretty well, in our humble opinion. From start to finish, our process is built to be simple, efficient, and fully tailored to your needs. Here’s how it works:

1. Head over to our website 

Simply head over to our limited company page to begin. Here’s what you can expect from our service:

• A UK-based accredited accountant 🧑‍💼
• Year-end accounts prepared and submitted to Companies House
• Corporate tax return (CT600) or Partnership tax return (SA800) prepared and submitted to HMRC 📤
• Professional help to claim eligible expenses and tax reliefs 
• Full calculation of your tax bill for you to review and approve
• Access to your accountant for help and support as needed 🤝

2. Fill in your information and get paired with an accredited accountant

After signing up with us, we’ll guide you through a few simple questions. Based on your answers, we’ll match you with the right service for your company and pair you with a dedicated, accredited accountant.

3. Upload your documents, approve your tax return, and get it filed with HMRC

Once you’ve been matched with an accountant, it’s time to upload your documents. Don’t worry, we make this part super simple – you can upload everything from your phone or laptop. 

You must also provide your Companies House authentication code and company UTR number. Once your accountant prepares your year-end accounts and tax return, you’ll have the chance to review everything.

After your approval, your accountant will file your return directly with Companies House and HMRC – it’s that easy! 😌

Why choose Taxscouts? 

Choosing us for your company tax return is a no-brainer. Here’s why:

1. Our user-friendly platform 

Seriously, it’s intuitive, jargon-free and there’s no confusion – just straight answers and easy steps. Plus, you can ask your accountant questions whenever you need, and they’ll keep you in the loop every step of the way. Oh, and when you’re happy, we’ll file everything with HMRC for you. No stress, no fuss.

2. Speedy service 💨

Need it done fast? We’ve got your back. Your tax return can be ready in as little as 48 hours after you provide your accountant with the necessary information. We automate the boring stuff so your accountant can focus on what matters – getting your corporation tax sorted right the first time.

3. Value for money  

An affordable fixed fee for a dedicated accredited accountant to handle your corporation tax return. No hidden fees, no surprises, just quality service at a price that makes you wonder why you didn’t do this sooner. 🤔

That’s it! Paying your corporation tax with TaxScouts is straightforward, stress-free, and dare we say, kinda fun? Now let’s get that tax sorted!