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The Tax payments template records the payments (and repayments) of corporation tax made in respect of the period. Together with the calculated liability, it shows how much has been paid and what remains due or repayable.

Table of contents 

When should I use this template?

Use it to record corporation tax paid to, or repaid by, HMRC during the period, so the tax account reflects the true position.

How does the analysis work?

  1. Add a row for each payment or repayment.
  2. Enter the date and the amount paid / (repaid). Enter repayments as negative amounts.

The template totals the payments and repayments and, where a long period of account applies, deals with each accounting period.

What flows through to the rest of Corporation Tax?

The total tax paid or repaid feeds the Tax account and Tax reconciliation, where it is compared with the corporation tax liability from the Tax calculation to show the balance outstanding or overpaid.

Where the data comes from

  • The payments and repayments are entered here.
  • The corporation tax liability they are compared against comes from the Tax calculation template.
  • The totals feed the Tax account  and Tax reconciliation to show the balance due or repayable.

What rolls forward next year?

The tax payments position feeds the tax account, and closing balances carry forward so the running position is maintained.

Frequently asked questions

How do I record a repayment from HMRC?

Enter it as a negative amount (a repayment) on the relevant date.

What does this template feed?

The Tax account and Tax reconciliation, where payments are compared with the calculated liability to show the balance due or repayable.