{"id":98,"date":"2021-10-15T12:23:00","date_gmt":"2021-10-15T12:23:00","guid":{"rendered":"https:\/\/finconcile.com\/blogs\/?p=98"},"modified":"2022-01-04T09:58:56","modified_gmt":"2022-01-04T09:58:56","slug":"enabling-you-to-file-your-company-tax-return-and-corporation-tax-successfully","status":"publish","type":"post","link":"https:\/\/finconcile.com\/blogs\/enabling-you-to-file-your-company-tax-return-and-corporation-tax-successfully\/","title":{"rendered":"Enabling You To File Your Company Tax Return And Corporation Tax Successfully"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"98\" class=\"elementor elementor-98\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5cd44d2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5cd44d2\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5a12176\" data-id=\"5a12176\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-792abcf elementor-widget elementor-widget-heading\" data-id=\"792abcf\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 05-08-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-large\">Enabling You To File your Company Tax Return and Corporation tax Successfully <\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2dae1411 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2dae1411\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-44eae740\" data-id=\"44eae740\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-77fe96f3 elementor-widget elementor-widget-text-editor\" data-id=\"77fe96f3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 05-08-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<!-- wp:paragraph -->\n<p>The filing of corporation tax and company tax returns is done simultaneously, with different deadlines for both of them.It happens because only after completing a company\u2019s tax return (known as CT600) can one assert the possible corporation tax filing.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A lot of companies choose to depend on experts for such tasks, but you can choose to do it all by yourself as well.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:heading -->\n<h4>Filing the tax return of your company<\/h4>\n<!-- \/wp:heading -->\n\n<!-- wp:paragraph -->\n<p>In case you seek a \u2018notice to deliver a company tax return\u2019 from HMRC, you need to file your company\u2019s tax return.Even if your company has suffered a loss or in no need to file a corporation tax, you still need to file a tax return.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>You would have to file the tax return 12 months after the end of your company\u2019s accounting period. If your accounting period is different from your company\u2019s financial year in special circumstances, you need to file two tax returns to cover your first year.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>A company tax return shows your company\u2019s corporation tax profit or loss that is different from the profit and loss shown in your annual accounts; the corporation tax bill. If you are handling your accounts, you can file your company&#8217;s tax account and your tax return with HMRC. You also have the option to file all of it online. A professional team for performing all these tasks is recommended for accuracy and punctuality in tasks.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:heading {\"level\":3} -->\n<h4>Penalties for filing a late company tax return:<\/h4>\n<!-- \/wp:heading -->\n\n<!-- wp:paragraph -->\n<p>There are consequences for not showing up on time with matters you are responsible for.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:list -->\n<ul>\n<li>If you are one day late in filing the tax, you would have to pay a fine of 100 Euros.<\/li>\n<li>If you are three months late, you will be charged 100 Euros.<\/li>\n<li>If you are six months late, HMRC will view your corporate tax bill and charge a 10 percent amount of the corporate tax (additionally) as fine.<\/li>\n<li>If you are 12 months late, an additional 10 percent of the tax liability is chargeable.<\/li>\n<\/ul>\n<!-- \/wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h4>The process to pay HMRC Corporation Tax bill<\/h4>\n<!-- \/wp:heading -->\n\n<!-- wp:paragraph -->\n<p>You can pay your corporation tax bill through:<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:list -->\n<ul>\n<li>Telephone or online banking: CHAPS<\/li>\n<li>BACS, with your debit or credit corporate card online, direct debit, at your building society or bank.<\/li>\n<li>You can directly debit as well.<\/li>\n<\/ul>\n<!-- \/wp:list -->\n\n<!-- wp:heading {\"level\":3} -->\n<h4>Penalty for paying late corporate tax<\/h4>\n<!-- \/wp:heading -->\n\n<!-- wp:paragraph -->\n<p>According to the guidelines by HMRC, the late fine is charged as interest daily. This will start from the very first day after the deadline and last till it is eventually paid.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>FinConcile is a team of accredited and seasoned specialists who specialise in accounting, tax, payroll, and compliance. Our team consists of CAs, lawyers, Company Secretaries, and other finance specialists who help accounting firms achieve long-term growth cost-effectively and accurately. We are your\u00a0<a href=\"http:\/\/www.finconcile.com\/management-accounts.php\">UK based outsourcer<\/a>\u00a0bringing prosperity within your business premises.<\/p>\n<!-- \/wp:paragraph -->\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Enabling You To File your Company Tax Return and Corporation tax Successfully The filing of corporation tax and company tax returns is done simultaneously, with different<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":1,"featured_media":99,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[17,20],"tags":[41,8,19],"class_list":["post-98","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporation-tax","category-vat-returns","tag-tax-return","tag-uk-based-outsourcer","tag-uk-based-outsourcing"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/finconcile.com\/blogs\/wp-json\/wp\/v2\/posts\/98","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finconcile.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finconcile.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finconcile.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/finconcile.com\/blogs\/wp-json\/wp\/v2\/comments?post=98"}],"version-history":[{"count":4,"href":"https:\/\/finconcile.com\/blogs\/wp-json\/wp\/v2\/posts\/98\/revisions"}],"predecessor-version":[{"id":466,"href":"https:\/\/finconcile.com\/blogs\/wp-json\/wp\/v2\/posts\/98\/revisions\/466"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finconcile.com\/blogs\/wp-json\/wp\/v2\/media\/99"}],"wp:attachment":[{"href":"https:\/\/finconcile.com\/blogs\/wp-json\/wp\/v2\/media?parent=98"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finconcile.com\/blogs\/wp-json\/wp\/v2\/categories?post=98"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finconcile.com\/blogs\/wp-json\/wp\/v2\/tags?post=98"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}