Ok so a small number of companies have got better paying company bank accounts.
But for everyone else, if you pay your Corporation Tax bill early, then HMRC give you interest at the base rate. That's 5%. If you're getting say 3% in your normal account, then on a £20k bill, that's £260 for paying 8 months early. Not huge, but free money at no effort, so why not pay early.....
Of course the other alternative is to open a Northern Rock business bank account and get 5.48% AER on amounts over £10k all the time.
But for everyone else, if you pay your Corporation Tax bill early, then HMRC give you interest at the base rate. That's 5%. If you're getting say 3% in your normal account, then on a £20k bill, that's £260 for paying 8 months early. Not huge, but free money at no effort, so why not pay early.....
Of course the other alternative is to open a Northern Rock business bank account and get 5.48% AER on amounts over £10k all the time.
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