What's the point of setting up a DD payment for a one off each time? Why not just pay it?
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Will work inside IR35. Or for food. -
DD appears to be the preferred method and all it really involves is logging in and submitting a new instruction with the correct reference. They will collect what they are owed on the date specified.Originally posted by VectraMan View Post
It doesn't need a whole new DD agreement IIRC.
Being able to do this in advance, as soon as you've submitted your CT600, also reduces the chances of forgetting.Comment
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I thought the whole point of DD was that you didn't have to calculate the exact date and worry about paying late or dealing with HMRC cheques for £0.73 of prepayment interest.
If my due date is 31 August, which is a Monday, what day should I set the DD for ?Comment
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Haha, interesting timing of bumping this as I just found myself trying to remember what I did last year, just like last year!
To the poster above, payment date doesn't matter as long as HMRC get paid by the deadline.Comment
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LOL I couldnt get a straight answer off my accountant either... I think what is being asked (as I have the same question) whats the latest DD date that can be instructed? So it can meet the deadline?
I would have thought the day before, but I could be wrong...Comment
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It's HMRC not a normal company.....Originally posted by AJ1982 View Post"You’re just a bad memory who doesn’t know when to go away" JRComment
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Why not put the money in a savings account with a standing order to transfer it back?
Then you can put money away to pay the corporation tax bill in a decent savings account with Aldermore say.
The money is then transferred back automatically to your bank account in time for the corporation tax direct debit bill to come out.
If you've got enough cash sitting in the business you can use a fixed term notice account for this and get an even higher rate of interest from Aldermore.Comment
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