Corporation Tax Online: Who Qualifies and What You Get
Learn how to use the digital platform to calculate and pay your company's corporation tax online.
This is a digital service used by companies to calculate and pay the tax owed on their profits.
Who it's for
This scheme is for limited companies operating in the United Kingdom.
What you get
You receive access to an online platform that allows you to calculate how much tax your company owes and provides a way to make that payment digitally.
What it costs you
While there is no direct fee to use the service, you must provide your accounts in a specific digital format known as iXBRL. This means your financial data must be tagged with specific software to be accepted by the system.
The catch to know
Simply starting the payment process is not enough. You must ensure that the full payment actually reaches the tax authority by the official deadline to avoid issues.
How to apply
- Prepare your company accounts using iXBRL tagging.
- Log in to the official government tax portal.
- Calculate the tax due based on your financial records.
- Submit your tax return and complete the payment.