Corporation tax online – FAQ’s
HMRC has published an updated version of the FAQ’s relating to the introduction of compulsory online corporation tax filing for company tax returns delivered after 31 March 2011 for accounting periods ending after 31 March 2010.
The document includes questions and answers on the following topics:
- Using HMRC’s free software
- Online returns
- Online filing transitional arrangements
- Paying Corporation Tax electronically
Companies and organisations that are still submitting paper returns are advised to familiarise themselves with the available online filing options which includes HMRC’s own software as well as commercial software. HMRC’s free software is designed for businesses with less complex affairs and whose turnover is less than £6.5m.
The FAQ’s document also addresses some of the concerns and uncertainties which businesses may have if their current software cannot generate an iXBRL file or where a software developer is late in delivering iXBRL enabled software.