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

  • Tax already paid (and not already repaid) – enter the amount of Corporation Tax paid by the company for the accounting period and not repaid by HMRC.
  • Tax refunds surrendered to the company under s.963 CTA 2010 – enter the amount surrendered to the company by another group company under S963 of CTA 2010 or Regulation 9 of the Corporation Tax (Instalment Payments) Regulations 1998.
  • Do not repay sums of less than £ – to stop HMRC from making small repayments please enter the minimum payment required. ‘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

  • Amount to be surrendered – enter the amount being surrendered by the company under S963 CTA 2010 (include surrenders under Regulation 9 of the Instalment Payments Regulations).
  • Joint notice is attached – tick the box if the 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.
  • Joint notice is to follow – tick if the joint notice is to follow.
  • 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

  • Name of bank for repayment – enter the name of the bank.
  • Sort code (XX-XX-XX) – enter the sort code in the format shown (e.g. 12-34-56).
  • Account number – enter the account number.
  • Account name – enter the account name.
  • Building society reference – enter the lender reference.
  • Name of nominee – enter the name of the nominee if the repayment is to a nominee.
  • Address of nominee – click Change address to enter the address of the nominee.
  • Nominee reference – enter the nominee reference.

Useful Resources

Corporation Tax: What is it and what you should know