For Limited companies with a 31st March year end, any Corporation Tax that’s due for payment must be received by HMRC by 1st January 2022.
Given the looming Christmas and New Year holiday period, the extra Bank Holiday and the general festive time-slip that seems usual around that time, we felt it worth a reminder, in plenty of time!
Will I receive a payslip?
You should have received a Notice to Deliver a Corporation Tax Return shortly after your year end. This would probably have arrived in mid-April 2021. The bottom of this form includes a payslip, including all of the bank details and references you’ll need to make your payment.
The payment reference for Corporation Tax changes each year, so if you have an old form, it’s best NOT to use the reference as HMRC are likely to apply the payment incorrectly.
What if I don’t have a Notice on file?
If you don’t have a Notice with a payslip, please use the following details. These may differ from those on the payslip, which should be used in preference, but will work as a fall back position and enable HMRC to trace your payment.
- Sort code: 083210
- Account number: 12001039
Use the Company’s UTR as a reference, OR send us an email and we can let you have the correct reference from HMRC’s system.
What if I can’t make my payment?
HMRC have said that they will be understanding if businesses are struggling to meet their tax liabilities after the pandemic.
If you’re in this category, don’t ignore the problem!
If you speak to HMRC, you can discuss making your payment in instalments. Call their Payment Support Services helpline on 0300 200 3835. They’re open Monday to Friday, between 8am and 6pm.
Please be sure to do contact them to discuss a payment arrangement before the payment is due, as they’ll be far more positive at this point. Once the payment is late, whoever you speak to will have less options available to them to help you.
Do come back to us if you have any questions, otherwise please ensure your payment is made as due or that you have a payment arrangement in place in good time to avoid any late payment penalties and interest.
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