Tax payments and repayments
This section is accessed via the Data Input tab within the tax return and provides details of Corporation Tax payments and repayments.
Tax payments and repayments
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Enter the amount of Corporation Tax already paid by the company for the accounting period and not already repaid by HMRC.
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Enter the amount of tax refunds surrendered to the company by another group company under S963 of CTA 2010 or Regulation 9 of the Corporation Tax (Instalment Payments) Regulations 1998.
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Enter the minimum payment required to stop HMRC from making small repayment .‘Repayments’ include tax, payable credits, interest, and late-filing penalties or any combination of them. If a figure is entered here HMRC will not make any repayment to the company or any authorised nominee unless it is more than the limit chosen. Any amounts below the limit will be allocated against any other Corporation Tax liabilities, or if there are none, to a later accounting period. To surrender a tax refund under S963 CTA 2010 to another group company do not complete this authority but complete the following section.
The company must renew or change any authority given each time a Company Tax Return form is completed, even when two returns at the same time. This authority overrides any previous authority given, so if this figure is left blank HMRC will make any repayment arising subsequently, however small.
Tax refunds surrendered under s.963 CTA 2010
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Enter the Amount to be surrendered by the company under S963 CTA 2010 (include surrenders under Regulation 9 of the Instalment Payments Regulations).
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Select this option Joint notice is attached to the Tax Return. For a surrender under Regulation 9 of the Instalment Payments Regulations, supply a schedule of the amount(s) and date(s) of each instalment surrendered.
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Select Joint notice is to follow if the joint notice is to follow.
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Stop repayment of this amount until notice sent – if the notice is not attached the company must tell HMRC the amount of repayment to stop until they receive the notice.
Bank details and nominee
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Enter the name of the bank for repayment.
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Enter the sort code in the format shown (12-34-56).
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Enter the account number and account name.
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Enter the building society lender reference.
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Enter the name of the nominee if the repayment is to a nominee.
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Select Change address to enter the address of the nominee.
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Enter the nominee reference.