Corporate Tax Management

How corporate tax works here

Track your corporation tax obligations end to end: accrue monthly provisions from your profit, prepare and file returns, and keep a running view of your liability. Provisions post against your accounts, so the tax charge is reflected in your management reports rather than appearing as a surprise at year end.

Raising a provision

1. Go to Accounting → Corporate Tax.
2. Click New Provision and choose the period.
3. The taxable profit is pulled from your posted journals for that period; adjust it if you have disallowable items.
4. Set the tax rate and save — the provision posts to your accounts.

Preparing a return

1. Open the Returns tab and click New Return for the accounting period.
2. Review the accumulated provisions for the period.
3. Record the final computed liability and the filing reference once submitted.
4. Mark the return Filed with the date.

Reading the liability

The header shows provisions raised, payments made, and the balance still owed. That balance is what should agree to your corporation tax control account.

Tip: Accrue monthly rather than annually. A provision raised each month keeps your monthly P&L honest and removes the year-end cliff edge.