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Can I file my own Corporation Tax Return?

At the end of each accounting year/period, limited companies must make a Corporation Tax CT600 return to HMRC along with Company annual accounts

Can I file my own Corporation Tax Return?

Whether you are coming to the end of your Company's first year of trading, or have been trading for several years,at the end of each year you need to file your Corporation Tax return with HMRC and pay any Corporation Tax due. This process includes completing a CT600 and attaching a set of IXBRL formatted accounts. You may choose to do this yourself or use the services of an accountant. In this article we introduce you to the process, if you want to complete your own return - and yes you can do it!

What you need to know

Once your accounting period has finished, you have a year to file your Corporation Tax Return to HMRC. However, if you are due to pay Corporation Tax, it must be paid to HMRC within 9 months and a day of your accounting period ending. You also need to file your accounts with Companies House.

Ok, so that all sounds a bit daunting and official, so lets break it down to the easy steps that we at offer.

How do you file to HMRC?

Generally an annual return to HMRC is made up of 3 parts:

  • A CT600 - this used to be a paper form that was posted to HMRC. Now each company must file the information contained in a CT600 electronically. See CT600 for more information.
  • Computations - these show how your figures in the CT600 are calculated and we take the information you input into your CT600 to create and iXBRL tag your computations.
  • Accounts - these are just a standard set of accounts, with a profit and loss account and a balance sheet. The accounting standards applied depend on whether your company is a micro or small entity. These are also tagged with iXBRL, see accounts for more information.
If your company has a very simple taxation you maybe able to use the HMRC's website for free.

To file your Corporation Tax return through you will need your UTR and your HMRC login details. If you have not already registered with HMRC please see their website. If you are VAT registered or registered for PAYE you will be able to use these login details, as long as you activate the Corporation Tax service.
Once you are registered with HMRC, you will need to activate the Corporation Tax service by logging into your HMRC account.

How does Easy Digital Filing file to HMRC?

We have produced easy to follow templates: one that allows you to create the CT600 and the associated computations, and one that creates the tagged accounts.
The CT600 asks you to fill in your income information in a way that allows us to create the computations in the background. There are additional pages if you need to report on items such as Capital Allowances, Research and Development, additional income, and loans to participants.

The accounts similarly have simple to use templates. For Micro Companies there are just four templates you need to fill in. Once you have filled in your details we format the accounts with iXBRL tags, ready for submission to HMRC.

We appreciate that creating your tax return can take time, especially when juggling the commitments of running your company as well, so you can log on and off as many times as it takes to complete your return. Your data is saved to our servers and backed-up regularly so there is no need to worry about loss of data.

Once you are happy that you have entered in all your data, and are ready to file to HMRC, we ask you to pay at this point - so no need to commit before you have tested our software. We offer email, online chat, knowledge based articles, page related helps, and phone support to help you along.

When you are ready to submit to HMRC, you click the submission button and we do the rest; the accounts are attached and encoded within the CT600 and sent to HMRC. You receive instant feedback as to whether your filing was successful, if you have made an error, you can correct it and resubmit, that's all included in the price.

Please visit our knowledge base if you require any further guidance or contact us.

Please note at the time of writing we do not file to Companies House, but will be offering this service by the end of June in 2020. In the meantime please visit their website. Remember Companies House require you to file your accounts to them within 9 months of end of your accounting period.

This article is information only and has been prepared for general guidance on matters of interest only, and does not constitute legal, accounting, tax, investment or other professional advice or services. You should not act upon the information contained in this article without obtaining specific professional or legal advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this article, and, to the extent permitted by law, Comdal Limited, its members, employees and agents do not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.