HMRC Corporation Tax - Payment Reminder

What the notice is about?

This is a reminder notice from HMRC for a corporation tax payment due to HMRC for previous bills. It is one of their constant efforts to avoid late payments altogether.

What is the payment deadline?

The corporation tax bill needs to be paid by you based on following deadlines -

• within 9 months and 1 day from the end of an accounting period for corporation tax to which it relates, if the taxable profits are upto £1.5 million. Though the corporation tax return can be submitted within 12 months after the end of the company’s accounting period for corporation tax, however the payment deadline is stricter.
• Pay your Corporation Tax in instalments, if the taxable profits are more than £1.5 million.

Is there any further action needed on this?

In cases where payment is already made for corporation tax bill, you can ignore this reminder after double checking the same with HMRC over the helpline number 0300 200 3410.

Where payment has not been processed, please ensure a quick payment to avoid possible rise in interest obligations and further action from HMRC including use of debt collection agencies, removing the money directly from the bank or building society, the sale of possessions, issuing court proceedings, and as worse as closing down the business or taking it to bankruptcy.

What are some of the payment modes of corporation tax bill?

• Through bank account online
• online or telephone banking by Faster Payments / CHAPS / BACS
• online by debit or corporate credit card
• through direct debit
• at bank or building society

Note: You would need a corporation tax payment reference number which is of 17 characters. This reference number changes with each accounting period.

HMRC Bank details for CT -