Your UK company's year with HMRC · Lesson 4 of 5

Corporation Tax from your books

1:17 · Captions: English, Arabic, French and Chinese.

Once a year, a company turns its profit into a tax figure, and files a CT600 with its accounts in a form HMRC's systems can read. In this lesson, Olivia files the year that ended in March.

What you'll learn

  • Start the CT600 from your year's profit
  • Check the tax adjustments and the tax
  • File the return, with its accounts, to HMRC

Step by step

  1. The Corporation Tax tool — Olivia's year to 31 March is closed in her books. Corporation Tax is under Finance, and the year is waiting, with its filing deadline.
  2. The year's profit — The return starts from the profit in her books. Nobody types it in.
  3. Tax adjustments — Snappy looks through the books for anything tax treats differently. This year, nothing needs adjusting, so the taxable profit is the same.
  4. The tax — With profits this size, the company pays at the small profits rate. Snappy shows the tax, and the dates to file and to pay.
  5. Accounts and computations — The return goes with the accounts and the tax computation, tagged so HMRC can read them. Snappy prepares both from the same books. Olivia adds her name as director, ticks the declaration, and submits.
  6. Filed with HMRC — HMRC has the return. Its reference is kept with it, with the date the tax is due.

The year's Corporation Tax, filed from the same books. Next: Companies House.