Tax payments and refunds

Tax payments and refunds shows the tax payable by the company for the accounting period and the due payment dates.

There are two tabs on the page: Payments and refunds and Group refunds.

Payments and refunds

Company liable to pay corporation tax by instalments

'Large' and 'very large' companies are generally required to make payments on account of their corporation tax liability in instalments in advance of the normal due date based on the company's estimate of its tax liability. There are specific rules that may apply and which mean that such a company does not need to pay by instalments for a particular accounting period.

Use the Company liable to pay corporation tax by instalments option, to indicate whether instalment payments are due for the accounting period having taken into account any relevant specific rules.

Tax payable Shows the total corporation tax payable.
Tax payment/s due

Shows the dates and amounts payable.

If the company is not liable to pay corporation tax by instalments, then this section will normally just show one payment.

If the company is liable to pay by instalments, then the section will usually show four payments, although there may be fewer if the accounting period is for less than twelve months.

You can add additional payments or repayments to this section by clicking on the green Balance figure.

You will then be able to add rows, by clicking Add.

Select the date of the transaction by either typing directly into the Date box or by clicking the Date drop-down box and choosing from the calendar.

Use the Transaction drop-down box to identify the transaction as:

  • Group refund claimed
  • Group refund surrendered
  • Tax paid
  • Tax refunded
Note:

Any transaction added must not include or relate to payments or refunds of restitution tax or coronavirus support schemes overpayments.

Group refunds

This tab provides details of any group refund claimed or group refund surrendered, as entered in the Tax payments/due section, on the Payments and refunds tab.

Group refund claimed

Amount claimed The amount shown here is as entered at Group refund claimed, on the Payments and refunds tab.

Group refund surrendered

Amount surrendered The amount shown here is as entered at Group refund surrendered, on the Payments and refunds tab.
Joint notice Select whether the joint notice is to accompany the return, or is to follow.
Amount not to be repaid until notice submitted If the joint notice is to follow and you are electing to defer all or part of the repayment until submission of the notice, then enter here the amount not to be repaid.