HMRC offers several ways to pay Corporation Tax, and it is worth noting the deadline of when you need to pay.
If you miss a deadline, you will be liable for interest payments on the outstanding amount. However, if you pay your Corporation Tax early, HMRC will pay interest to your business.
Corporation Tax can be paid electronically, and at the Post Office or your bank, depending
on how quickly want the payment to clear with HMRC.
In all cases, you will need to quote your 17-digit Corporation Tax reference number for the accounting period you are paying for.
Same day Corporation Tax payments – you will need to pay by CHAPS, online or telephone (Faster Payments) – most high street banks with online business accounts will support online same day transfers to HMRC. You will either need to pay HMRC Cumbernauld or HMRC Shipley – your Corporation Tax payslip with tell you which one. If in doubt, pay HMRC Cumbernauld.
Three working day Corporation Tax
payments – BACS bank transfers, Direct Debit, or paying online with your credit or debit card typically take around three working days. The same length applies if you pay at the Post Office, a bank or building society. If you pay at the bank, Post Office or building society, you will need to take you Corporation Tax payslip HMRC sent.
Five working day Corporation Tax
payments – if you need to set up a Direct Debit for this and future Corporation Tax payments, it will take five days to process
the payment to HMRC.
How do I know
if HMRC got my tax payment?
Depending on your payment method, HMRC will update your account with your latest payments
within a few days of you paying HMRC.
You can check your online HMRC account see if your account has been updated with your payment.
